City Therapeutics (NASDAQ:CTY) Stock Falls 6.3% – Here’s What Happened

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

Analysts Set New Price Targets

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

City Therapeutics Stock Performance

Insider Buying and Selling at City Therapeutics

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

About City Therapeutics