City Therapeutics (NASDAQ:CTY) Reaches New 1-Year Low – Time to Sell?

Shares of City Therapeutics, Inc. (NASDAQ:CTY) hit a new 52-week low during trading on Monday. The stock traded as low as $19.19 and last traded at $21.36, with a volume of 17,035 shares trading hands. The stock had previously closed at $20.71.

Analyst Upgrades and Downgrades

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

City Therapeutics Price Performance

Insiders Place Their Bets

In other City Therapeutics news, major shareholder Arch Venture Partners Xii, Llc acquired 170,000 shares of the company’s 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 purchase, the insider owned 13,692,507 shares in the company, valued at $246,465,126. This represents a 1.26% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Nelsen acquired 170,000 shares of City Therapeutics stock in a transaction dated 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 acquisition, the director directly owned 13,692,507 shares in the company, valued at $246,465,126. This trade represents a 1.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

About City Therapeutics