Oppenheimer Initiates Coverage on City Therapeutics (NASDAQ:CTY)

Stock analysts at Oppenheimer began coverage on shares of City Therapeutics (NASDAQ:CTY) in a research note issued on Tuesday, Benzinga reports. The firm set an “outperform” rating and a $46.00 price target on the stock. Oppenheimer‘s price objective would indicate a potential upside of 146.38% from the company’s current price.

Separately, Wall Street Zen raised shares of City Therapeutics to a “hold” rating in a research note on Saturday, October 24th. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $37.33.

City Therapeutics Stock Performance

Shares of CTY opened at $18.67 on Tuesday. City Therapeutics has a 52-week low of $15.81 and a 52-week high of $23.88.

Insider Buying and Selling

In related news, 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 cost 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 of the company’s stock, valued at approximately $246,465,126. This trade represents a 1.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Nelsen purchased 170,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the director 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 position. The disclosure for this purchase is available in the SEC filing.

City Therapeutics Company Profile