City Therapeutics (NASDAQ:CTY) Stock Rated Buy in New Coverage at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of City Therapeutics (NASDAQ:CTY) in a report published on Tuesday, Marketbeat reports. The firm issued a buy rating and a $32.00 price target on the stock.

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

City Therapeutics Price Performance

CTY stock opened at $18.98 on Tuesday. City Therapeutics has a twelve month low of $15.81 and a twelve month high of $23.88.

Insider Buying and Selling

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

City Therapeutics Company Profile

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.