City Therapeutics (NASDAQ:CTY) Sets New 1-Year Low – Here’s Why

City Therapeutics, Inc. (NASDAQ:CTY)’s stock price reached a new 52-week low on Monday. The company traded as low as $19.19 and last traded at $21.36, with a volume of 17,035 shares traded. The stock had previously closed at $20.71.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised City Therapeutics to a “hold” rating in a research note on Saturday, October 24th.

City Therapeutics Price Performance

Insider Activity

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

City Therapeutics Company Profile