Equities researchers at Zacks Research began coverage on shares of City Therapeutics (NASDAQ:CTY – Get Free Report) in a report released on Wednesday, Zacks reports. The firm set a “hold” rating on the stock.
CTY has been the topic of a number of other research reports. Oppenheimer assumed coverage on shares of City Therapeutics in a research report on Tuesday. They set an “outperform” rating and a $46.00 target price on the stock. Wall Street Zen raised shares of City Therapeutics to a “hold” rating in a research report on Saturday, October 24th. Stifel Nicolaus began coverage on shares of City Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $34.00 price target for the company. Finally, Jefferies Financial Group began coverage on shares of City Therapeutics in a research note on Tuesday. They set a “buy” rating and a $32.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.
Read Our Latest Stock Report on CTY
City Therapeutics Stock Performance
CTY stock opened at $18.98 on Wednesday. City Therapeutics has a 1-year low of $15.81 and a 1-year high of $23.88.
Insider Buying and Selling at City Therapeutics
In other news, major shareholder Arch Venture Partners Xii, Llc purchased 170,000 shares of the business’s stock in a transaction on Monday, October 19th. The shares were acquired at an average cost of $18.00 per share, with a total value of $3,060,000.00. Following the completion of the acquisition, the insider owned 13,692,507 shares of the company’s stock, valued at $246,465,126. This trade represents a 1.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Nelsen purchased 170,000 shares of City Therapeutics stock in a transaction dated Monday, October 19th. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $3,060,000.00. Following the completion of the transaction, the director owned 13,692,507 shares of the company’s stock, valued at approximately $246,465,126. This represents a 1.26% increase in their position. The disclosure for this purchase is available in the SEC filing.
About City Therapeutics
City Therapeutics is a biotechnology company developing medicines based on RNA interference (RNAi), a biological process that can reduce the production of specific disease-related proteins. Its research focuses on designing RNAi therapies for potential use across a range of diseases. Launched in 2024, the company is developing technology intended to advance the design and delivery of RNAi medicines. Its work is research and development focused; the company’s activities center on building a therapeutic pipeline rather than marketing established products.
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