PTC Therapeutics (PTCT) : Traders are negative on PTC Therapeutics (PTCT), as it has 20.1% of short positions outstanding compared to its float. The total shorts have reduced by -669,558 shares, which is a -9.5% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,7,064,431 to 6,394,873 shares. While the daily trading volume of the stock is 1,418,077, there are 5 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
PTC Therapeutics (NASDAQ:PTCT): The stock opened at $8.25 on Wednesday but the bulls could not build on the opening and the stock topped out at $8.74 for the day. The stock traded down to $7.85 during the day, due to lack of any buying support eventually closed down at $7.98 with a loss of -3.74% for the day. The stock had closed at $8.29 on the previous day. The total traded volume was 1,055,750 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Chief Commercial Officer) of Ptc Therapeutics, Inc., Rothera Mark, had purchased 2,000 shares in a transaction dated on March 3, 2016. The transaction was executed at $6.23 per share with total amount equaling $12,460.
PTC Therapeutics, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that target post-transcriptional control processes. The Companys internally discovered pipeline addresses multiple therapeutic areas, including rare disorders, oncology and infectious diseases. The Companys lead product, Translarna (ataluren), is used for the treatment of genetic disorders due to a nonsense mutation in ambulatory patients aged five years and older. Ataluren is in clinical development for the treatment of Duchenne muscular dystrophy caused by a nonsense mutation (nmDMD) and cystic fibrosis caused by a nonsense mutation (nmCF).