The teenagers were taken to hospital last night after a stabbing on Bluebell Avenue yesterday evening. They are both now in a stable condition.
A police spokesperson said: "We were called at 6.22pm yesterday evening (Wednesday October 28) by the ambulance service, reporting an 18-year-old man had been stabbed multiple times in Bluebell Avenue, Dogsthorpe.
"The man was taken to Peterborough City Hospital (PCH) in a critical condition, however he is now described a stable.
"A 16-year-old boy is also being treated at PCH for a single stab wound. He is also in a stable condition.
"No arrests have been made at this stage and an investigation is ongoing. An increased police presence will be in place in the area today as enquiries continue.
"Anyone with information is urged to contact police by calling 101 and quoting CC-28102020-0391."