PTC Therapeutics director Schmertzler sells $1.35m in stock
PTC Therapeutics' director, Michael Schmertzler, recently sold a substantial amount of the company's common stock, totaling $1,351,803. The transactions took place on September 9 and 10, 2026, under a prearranged Rule 10b5-1 trading plan. Schmertzler disposed of 20,000 shares across the two days, with sales ranging from $67.34 to $68.67 per share.
He holds an indirect ownership of 1,316,594 shares of PTC Therapeutics common stock through Section Six Partners, L.P. The insider sale occurs amidst PTCT shares trading at $66.06, down nearly 5% over the past week and 13% year-to-date. PTCT's stock is considered overvalued according to InvestingPro analysis. Despite this, PTC Therapeutics reported impressive Q2 2026 results, surpassing Wall Street expectations with earnings of $0.92 per share on revenue of $361 million.
The company raised its full-year revenue guidance due to record revenue driven by the product Sephience. The biotech industry shows a positive trend with increased global funding and higher IPO activity.
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