Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $66.95 and last traded at $64.85, with a volume of 837812 shares trading hands. The stock had previously closed at $61.53.
Analyst Ratings Changes
Several brokerages have issued reports on CDTX. WBB Securities restated a "strong-buy" rating and set a $45.00 target price on shares of Cidara Therapeutics in a research report on Monday, June 23rd. Guggenheim set a $69.00 price target on Cidara Therapeutics in a report on Wednesday, July 9th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Cidara Therapeutics in a research note on Tuesday, June 10th. Wall Street Zen raised Cidara Therapeutics to a "sell" rating in a report on Saturday, May 10th. Finally, Needham & Company LLC upped their target price on Cidara Therapeutics from $36.00 to $54.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.29.
View Our Latest Stock Report on CDTX
Cidara Therapeutics Trading Down 3.0%
The stock has a 50-day moving average price of $36.66 and a 200 day moving average price of $26.49. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.13 and a beta of 1.14.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) EPS for the quarter, beating analysts' consensus estimates of ($5.45) by $3.79. Equities research analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current year.
Insider Activity
In other news, Director Ra Capital Management, L.P. bought 2,272,727 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were bought at an average cost of $44.00 per share, for a total transaction of $99,999,988.00. Following the acquisition, the director directly owned 3,365,523 shares of the company's stock, valued at $148,083,012. This trade represents a 207.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.89% of the company's stock.
Institutional Trading of Cidara Therapeutics
Several institutional investors have recently made changes to their positions in CDTX. Trifecta Capital Advisors LLC purchased a new position in Cidara Therapeutics in the second quarter worth approximately $49,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cidara Therapeutics during the 4th quarter worth $56,000. Point72 Asset Management L.P. acquired a new stake in shares of Cidara Therapeutics during the 4th quarter worth about $165,000. American Century Companies Inc. acquired a new stake in shares of Cidara Therapeutics during the 1st quarter worth about $224,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Cidara Therapeutics in the 4th quarter valued at about $339,000. Hedge funds and other institutional investors own 35.82% of the company's stock.
About Cidara Therapeutics
(
Get Free Report)
Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.
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