City Therapeutics (NASDAQ:CTY) Shares Up 11.2% – Still a Buy?

City Therapeutics, Inc. (NASDAQ:CTY) shares shot up 11.2% on Friday. The stock traded as high as $18.99 and last traded at $18.99. Approximately 16,871 shares were traded during trading, a decline of 93% from the average session volume of 247,129 shares. The stock had previously closed at $17.07.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Robert Nelsen purchased 170,000 shares of City Therapeutics stock in a transaction dated Monday, October 19th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $3,060,000.00. Following the purchase, the director 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Arch Venture Partners Xii, Llc purchased 170,000 shares of the firm’s stock in a transaction that occurred on Monday, October 19th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $3,060,000.00. Following the completion of the acquisition, the insider directly owned 13,692,507 shares in the company, valued at $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