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

City Therapeutics, Inc. (NASDAQ:CTY)’s stock price gapped down prior to trading 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 shares of City Therapeutics to a “hold” rating in a research note on Saturday, October 24th.

City Therapeutics Stock Up 6.9%

Insider Transactions at City Therapeutics

In related news, Director Robert Nelsen bought 170,000 shares of the business’s stock in a transaction on Monday, October 19th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $3,060,000.00. Following the completion of the acquisition, the director directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Arch Venture Partners Xii, Llc purchased 170,000 shares of City Therapeutics stock in a transaction on 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 transaction, the insider directly owned 13,692,507 shares of the company’s stock, 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.

About City Therapeutics