City Therapeutics (NASDAQ:CTY) Stock Jumps 11.2% – Still a Buy?

City Therapeutics, Inc. (NASDAQ:CTY)’s stock price rose 11.2% during trading on Friday. The company traded as high as $18.99 and last traded at $18.99. Approximately 16,871 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 247,129 shares. The stock had previously closed at $17.07.

Analysts Set New Price Targets

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

City Therapeutics Stock Up 4.6%

Insider Buying and Selling

In other City Therapeutics news, Director Robert Nelsen bought 170,000 shares of the stock in a transaction dated Monday, October 19th. The shares were bought 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 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 document filed with the SEC, which is accessible through this link. Also, major shareholder Arch Venture Partners Xii, Llc purchased 170,000 shares of the company’s stock in a transaction dated Monday, October 19th. The stock was acquired at an average price of $18.00 per share, with a total value of $3,060,000.00. Following the completion of the transaction, the insider owned 13,692,507 shares of the company’s stock, valued at $246,465,126. This represents a 1.26% increase in their position. The disclosure for this purchase is available in the SEC filing.

City Therapeutics Company Profile