City Therapeutics (NASDAQ:CTY) Research Coverage Started at Oppenheimer

Oppenheimer began coverage on shares of City Therapeutics (NASDAQ:CTY) in a research report released on Tuesday, MarketBeat reports. The brokerage issued an outperform rating and a $46.00 target price on the stock.

Separately, Wall Street Zen upgraded City Therapeutics to a “hold” rating in a research report on Saturday, October 24th. Three research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $37.33.

City Therapeutics Stock Performance

Shares of CTY stock opened at $18.98 on Tuesday. City Therapeutics has a 1 year low of $15.81 and a 1 year high of $23.88.

Insider Activity

In other City Therapeutics news, Director Robert Nelsen purchased 170,000 shares of the 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 directly 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Arch Venture Partners Xii, Llc acquired 170,000 shares of the company’s stock in a transaction dated 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 purchase, the insider 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 disclosure for this purchase is available in the SEC filing.

City Therapeutics Company Profile

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.