City Therapeutics (NASDAQ:CTY) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of City Therapeutics (NASDAQ:CTY) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $34.00 price target on the stock.

Several other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of City Therapeutics in a research report on Tuesday. They set a “buy” rating and a $32.00 price objective for the company. Wall Street Zen raised shares of City Therapeutics to a “hold” rating in a research note on Saturday, October 24th. Finally, Oppenheimer started coverage on shares of City Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $46.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $37.33.

City Therapeutics Stock Performance

NASDAQ CTY opened at $18.98 on Tuesday. City Therapeutics has a 52 week low of $15.81 and a 52 week high of $23.88.

Insiders Place Their Bets

In other City Therapeutics news, major shareholder Arch Venture Partners Xii, Llc purchased 170,000 shares of the stock in a transaction dated Monday, October 19th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $3,060,000.00. Following the acquisition, the insider 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 at the SEC website. Also, Director Robert Nelsen acquired 170,000 shares of the business’s stock in a transaction that occurred on 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 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 position. The SEC filing for this purchase provides additional information.

About City Therapeutics

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.