Oppenheimer Initiates Coverage on City Therapeutics (NASDAQ:CTY)

Equities researchers at Oppenheimer assumed coverage on shares of City Therapeutics (NASDAQ:CTY) in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm set an “outperform” rating and a $46.00 price target on the stock. Oppenheimer‘s price target would suggest a potential upside of 146.38% from the stock’s previous close.

Separately, Wall Street Zen upgraded 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 a consensus target price of $37.33.

City Therapeutics Stock Up 2.3%

City Therapeutics stock opened at $18.67 on Tuesday. City Therapeutics has a 12 month low of $15.81 and a 12 month high of $23.88.

Insider Transactions at City Therapeutics

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

City Therapeutics Company Profile