Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. PTC Therapeutics Inc shares valued at $764,800 were sold by ZELDIS JEROME B on May 22 ’24. At $38.24 per share, ZELDIS JEROME B sold 20,000 shares. The insider’s holdings dropped to 14,500 shares worth approximately $0.48 million following the completion of this transaction.
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Also, Golden Lee Scott sold 175 shares, netting a total of over 5,744 in proceeds. Following the sale of shares at $32.82 each, the insider now holds 59,813 shares.
Before that, Klein Matthew B. had sold 3,361 shares from its account. In a trade valued at $83,669, the CHIEF EXECUTIVE OFFICER traded PTC Therapeutics Inc shares for $24.89 each. Upon closing the transaction, the insider’s holdings decreased to 3,361 shares, worth approximately $7.52 million.
As published in a research note from Raymond James on May 20, 2024, PTC Therapeutics Inc [PTCT] has been rated up from an Underperform to a Mkt perform. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in mid December. As of December 08, 2023, Wells Fargo has initiated its “an Overweight” rating for PTCT. Earlier on October 30, 2023, Oppenheimer upgraded its rating. Their new recommendation was “an Outperform” for PTCT stock which previously was a “a Perform”.
Analyzing PTCT Stock Performance
During the last five days, there has been a drop of approximately -11.63%. Over the course of the year, PTC Therapeutics Inc shares have jumped approximately 20.79%. Shares of the company reached a 52-week high of $40.69 on 05/21/24 and a 52-week low of $23.58 on 02/13/24. A 50-day SMA is recorded $32.76, while a 200-day SMA reached $27.82. Nevertheless, trading volume fell to 2.19 million shares from 0.97 million shares the previous day.
Support And Resistance Levels for PTC Therapeutics Inc (PTCT)
According to the 24-hour chart, there is a support level at 31.78, which, if violated, would cause prices to drop to 30.27. In the upper region, resistance lies at 35.87. The next price resistance is at 38.45. RSI (Relative Strength Index) is 40.84 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.88, which suggests the price will decrease in the coming days. Percent R is at 93.80%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
