PTC Therapeutics Inc. (PTCT) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 23. At the lunch break, shares of PTCT have clocked gains of 3.75% to $11.35 after closing the day prior at $10.94. In the first two and a half hours of trading, the stock has gone as high as $11.6 and as low as $10.8. Today’s rise has come with about 735,219 shares changing hands, compared to an average 30-day volume of 1.26 million for PTC Therapeutics Inc.. The price is currently below the 30-day volume weighted average price of $11.32 for PTCT.
The share appreciation gives the company a market capitalization of $374.67 million based upon 34.25 million shares outstanding. It also means that PTCT has a price-to-book ratio of 2.26:1.
In the past 52 weeks, shares of PTCT have traded as low as $5.27 and as high as $35.76. Technical traders will take note that at $11.35, shares of PTCT are trading below their 200-day MA at $12.51 and above their 50-day MA at $7.8. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is PTCT?
PTC Therapeutics Inc is a biopharmaceutical company focused on the discovery and development of orally administered, proprietary small-molecule drugs that target post-transcriptional control processes. The company’s 320 employees are led by CEO Stuart W. Peltz from the corporate headquarters at 100 Corporate Court in South Plainfield, NJ.
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