City Therapeutics (NASDAQ:CTY) Shares Gap Down – What’s Next?

City Therapeutics, Inc. (NASDAQ:CTY) gapped down before the market opened on Thursday. The stock had previously closed at $19.09, but opened at $16.28. City Therapeutics shares last traded at $15.81, with a volume of 2,570 shares trading hands.

Analyst Upgrades and Downgrades

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

City Therapeutics Price Performance

Insiders Place Their Bets

In other City Therapeutics news, Director Robert Nelsen bought 170,000 shares of the business’s stock in a transaction that occurred on Monday, October 19th. The stock was purchased 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 director owned 13,692,507 shares in the company, valued at $246,465,126. This trade represents a 1.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Arch Venture Partners Xii, Llc bought 170,000 shares of the firm’s stock in a transaction dated Monday, October 19th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $3,060,000.00. Following the completion of 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 position. Additional details regarding this purchase are available in the official SEC disclosure.

City Therapeutics Company Profile