City Therapeutics (NASDAQ:CTY) Stock Falls 6.3% – What’s Next?

City Therapeutics, Inc. (NASDAQ:CTY)’s share price was down 6.3% during trading on Tuesday. The stock traded as low as $19.54 and last traded at $19.57. Approximately 195,631 shares changed hands during trading, a decline of 23% from the average daily volume of 253,530 shares. The stock had previously closed at $20.88.

Analyst Upgrades and Downgrades

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

City Therapeutics Stock Performance

Insiders Place Their Bets

In other news, major shareholder Arch Venture Partners Xii, Llc acquired 170,000 shares of City Therapeutics stock in a transaction that occurred 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 transaction, the insider owned 13,692,507 shares in the company, valued at $246,465,126. The trade was a 1.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Nelsen purchased 170,000 shares of City Therapeutics 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 transaction, the director directly owned 13,692,507 shares in the company, valued at approximately $246,465,126. The trade was a 1.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

City Therapeutics Company Profile