Insider Selling: Cidara Therapeutics (NASDAQ:CDTX) Insider Sells 474 Shares of Stock

Key Points

• Insider Nicole Negar Davarpanah sold 474 shares of Cidara Therapeutics at an average price of $62.86, totaling approximately $29,795.64, reducing her ownership by 1.49%.
• The company reported a quarterly earnings loss of ($1.65) per share, outperforming analysts' expectations of ($1.87).
• Research analysts maintain a positive outlook on Cidara Therapeutics, with a consensus rating of "Buy" and a target price averaging $64.14.

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) insider Nicole Negar Davarpanah sold 474 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $62.86, for a total transaction of $29,795.64. Following the completion of the transaction, the insider owned 31,418 shares of the company's stock, valued at approximately $1,974,935.48. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cidara Therapeutics Price Performance

NASDAQ CDTX traded up $1.29 during mid-day trading on Monday, reaching $66.91. The stock had a trading volume of 1,176,607 shares, compared to its average volume of 436,801. Cidara Therapeutics, Inc. has a 1 year low of $10.14 and a 1 year high of $69.36. The stock has a market cap of $1.70 billion, a PE ratio of -6.01 and a beta of 1.29. The company has a fifty day moving average price of $61.64 and a 200 day moving average price of $37.66.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.65) earnings per share for the quarter, topping analysts' consensus estimates of ($1.87) by $0.22. As a group, equities research analysts expect that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank bought a new position in shares of Cidara Therapeutics during the 2nd quarter valued at about $28,000. Tower Research Capital LLC TRC boosted its holdings in shares of Cidara Therapeutics by 66.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,556 shares of the biotechnology company's stock valued at $76,000 after purchasing an additional 623 shares during the last quarter. Trifecta Capital Advisors LLC bought a new position in shares of Cidara Therapeutics during the 2nd quarter valued at about $49,000. California State Teachers Retirement System bought a new position in shares of Cidara Therapeutics during the 2nd quarter valued at about $51,000. Finally, Legal & General Group Plc bought a new position in shares of Cidara Therapeutics during the 2nd quarter valued at about $73,000. Institutional investors own 35.82% of the company's stock.

Wall Street Analysts Forecast Growth

CDTX has been the subject of a number of research reports. WBB Securities reiterated a "strong-buy" rating and set a $45.00 target price on shares of Cidara Therapeutics in a research note on Monday, June 23rd. Guggenheim reiterated a "buy" rating on shares of Cidara Therapeutics in a research note on Friday, August 8th. HC Wainwright reiterated a "buy" rating and set a $74.00 target price (up from $53.00) on shares of Cidara Therapeutics in a research note on Friday, August 8th. Royal Bank Of Canada restated an "outperform" rating on shares of Cidara Therapeutics in a research note on Tuesday, June 24th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Cidara Therapeutics in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $64.14.

About Cidara Therapeutics

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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