The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PTC Therapeutics Inc shares valued at $77,200 were sold by Gravier Pierre on Jul 16 ’24. At $34.02 per share, Gravier Pierre sold 2,269 shares. The insider’s holdings dropped to 53,531 shares worth approximately $1.95 million following the completion of this transaction.
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Also, ZELDIS JEROME B sold 20,000 shares, netting a total of over 764,800 in proceeds. Following the sale of shares at $38.24 each, the insider now holds 14,500 shares.
Before that, Golden Lee Scott had sold 175 shares from its account. In a trade valued at $5,744, the EVP & CHIEF MEDICAL OFFICER traded PTC Therapeutics Inc shares for $32.82 each. Upon closing the transaction, the insider’s holdings decreased to 175 shares, worth approximately $2.18 million.
As published in their initiating research note from Robert W. Baird on September 04, 2024, PTC Therapeutics Inc [PTCT] has been an Outperform and the price target has been revised to $44. As of May 20, 2024, Raymond James has increased its “an Underperform” rating to a “Mkt perform” for PTCT. Earlier on December 19, 2023, Morgan Stanley downgraded its rating. Their new recommendation was “an Underweight” for PTCT stock which previously was a “an Equal-weight”.
Analyzing PTCT Stock Performance
During the last five days, there has been a drop of approximately -0.57%. Over the course of the year, PTC Therapeutics Inc shares have jumped approximately 32.18%. 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 $33.93, while a 200-day SMA reached $31.23. Nevertheless, trading volume fell to 0.74 million shares from 1.24 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 35.77, which, if violated, would cause prices to drop to 35.12. In the upper region, resistance lies at 37.22. The next price resistance is at 38.02. RSI (Relative Strength Index) is 58.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.40, which suggests the price will decrease in the coming days. Percent R is at 40.33%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
