Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 321,713 shares traded hands during mid-day trading, an increase of 71% from the previous session's volume of 188,649 shares.The stock last traded at $49.58 and had previously closed at $50.45.
Analyst Ratings Changes
A number of research analysts have commented on CDTX shares. Needham & Company LLC lifted their price objective on shares of Cidara Therapeutics from $36.00 to $54.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Guggenheim set a $69.00 price objective on shares of Cidara Therapeutics in a research note on Wednesday. Cantor Fitzgerald restated an "overweight" rating on shares of Cidara Therapeutics in a research report on Tuesday, June 10th. Wall Street Zen raised shares of Cidara Therapeutics to a "sell" rating in a research report on Saturday, May 10th. Finally, WBB Securities reiterated a "strong-buy" rating and set a $45.00 price objective on shares of Cidara Therapeutics in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cidara Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $57.29.
Read Our Latest Report on CDTX
Cidara Therapeutics Price Performance
The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -1.71 and a beta of 1.14. The stock's fifty day simple moving average is $30.60 and its two-hundred day simple moving average is $24.73.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share for the quarter, topping analysts' consensus estimates of ($5.45) by $3.79. On average, sell-side analysts predict that Cidara Therapeutics, Inc. will post -8.74 EPS for the current year.
Insider Buying and Selling at Cidara Therapeutics
In other news, Director Ra Capital Management, L.P. acquired 2,272,727 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were acquired at an average price of $44.00 per share, with a total value of $99,999,988.00. Following the acquisition, the director directly owned 3,365,523 shares in the company, valued at approximately $148,083,012. The trade was a 207.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.89% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Cidara Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of CDTX. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cidara Therapeutics during the 4th quarter valued at about $56,000. Northern Trust Corp lifted its position in shares of Cidara Therapeutics by 6.8% in the fourth quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock worth $913,000 after purchasing an additional 2,170 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Cidara Therapeutics in the fourth quarter worth approximately $165,000. OMERS ADMINISTRATION Corp raised its position in Cidara Therapeutics by 53.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 19,300 shares of the biotechnology company's stock valued at $416,000 after acquiring an additional 6,700 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in Cidara Therapeutics during the first quarter valued at approximately $224,000. 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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