Cidara Therapeutics (NASDAQ:CDTX) Stock Crosses Above 50 Day Moving Average - Time to Sell?

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report)'s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $35.74 and traded as high as $66.95. Cidara Therapeutics shares last traded at $64.85, with a volume of 837,812 shares traded.

Analysts Set New Price Targets

CDTX has been the topic of several research reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Cidara Therapeutics in a research note on Tuesday, June 10th. JMP Securities reaffirmed a "market outperform" rating and set a $59.00 target price on shares of Cidara Therapeutics in a research note on Monday, June 30th. Needham & Company LLC lifted their target price on shares of Cidara Therapeutics from $36.00 to $54.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Cidara Therapeutics in a research note on Tuesday, June 24th. Finally, WBB Securities reaffirmed a "strong-buy" rating and set a $45.00 target price on shares of Cidara Therapeutics in a research note on Monday, June 23rd. One research 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. Based on data from MarketBeat.com, Cidara Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $57.29.

Cidara Therapeutics Stock Down 1.5%

The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.10 and a beta of 1.14. The business's 50-day simple moving average is $38.22 and its two-hundred day simple moving average is $26.98.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share for the quarter, beating analysts' consensus estimates of ($5.45) by $3.79. Sell-side analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current year.

Insider Buying and Selling at Cidara Therapeutics

In other Cidara Therapeutics 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 stock was purchased at an average price of $44.00 per share, for a total transaction of $99,999,988.00. Following the completion of the acquisition, the director owned 3,365,523 shares of the company's stock, valued at approximately $148,083,012. This trade represents a 207.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.89% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Trifecta Capital Advisors LLC acquired a new position in Cidara Therapeutics during the 2nd quarter worth approximately $49,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cidara Therapeutics in the 4th quarter valued at $56,000. Point72 Asset Management L.P. acquired a new position in shares of Cidara Therapeutics in the 4th quarter valued at $165,000. American Century Companies Inc. acquired a new position in shares of Cidara Therapeutics in the 1st quarter valued at $224,000. Finally, West Michigan Advisors LLC acquired a new position in shares of Cidara Therapeutics in the 1st quarter valued at $291,000. Institutional investors and hedge funds own 35.82% of the company's stock.

Cidara Therapeutics Company Profile

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.