City Therapeutics (NASDAQ:CTY) Stock Picked Up by Analysts at Zacks Research

Stock analysts at Zacks Research initiated coverage on shares of City Therapeutics (NASDAQ:CTY) in a report released on Wednesday, Zacks reports. The firm set a “hold” rating on the stock.

CTY has been the subject of several other reports. Oppenheimer began coverage on City Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $46.00 price objective for the company. Wall Street Zen upgraded City Therapeutics to a “hold” rating in a report on Saturday, October 24th. Stifel Nicolaus started coverage on City Therapeutics in a research report on Tuesday. They set a “buy” rating and a $34.00 target price on the stock. Finally, Jefferies Financial Group began coverage on City Therapeutics in a report on Tuesday. They set a “buy” rating and a $32.00 price target on the stock. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

City Therapeutics Trading Up 11.6%

CTY opened at $18.98 on Wednesday. City Therapeutics has a 12 month low of $15.81 and a 12 month high of $23.88.

Insider Activity

In related news, major shareholder Arch Venture Partners Xii, Llc acquired 170,000 shares of the stock in a transaction on Monday, October 19th. The stock was bought at an average cost of $18.00 per share, with a total value of $3,060,000.00. Following the transaction, the insider directly owned 13,692,507 shares in the company, valued at approximately $246,465,126. This represents a 1.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Nelsen bought 170,000 shares of the company’s stock in a transaction on Monday, October 19th. The stock was bought at an average price of $18.00 per share, for a total transaction of $3,060,000.00. Following the completion of the purchase, the director directly owned 13,692,507 shares in the company, valued at approximately $246,465,126. This represents a 1.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

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.