Cidara Therapeutics (NASDAQ:CDTX) Releases Earnings Results

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) is scheduled to announce its earnings results on Thursday, March 21st.

Cidara Therapeutics Stock Up 6.8 %

CDTX traded up $0.05 during trading on Wednesday, hitting $0.76. The company had a trading volume of 878,526 shares, compared to its average volume of 502,581. The company has a market capitalization of $69.15 million, a PE ratio of -1.83 and a beta of 0.95. Cidara Therapeutics has a one year low of $0.59 and a one year high of $2.10. The firm's 50-day moving average price is $0.70 and its 200 day moving average price is $0.79.

Institutional Investors Weigh In On Cidara Therapeutics

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake in shares of Cidara Therapeutics by 1.7% during the first quarter. Renaissance Technologies LLC now owns 1,437,845 shares of the biotechnology company's stock worth $1,197,000 after purchasing an additional 23,588 shares during the period. State Street Corp increased its position in shares of Cidara Therapeutics by 14.1% in the first quarter. State Street Corp now owns 176,237 shares of the biotechnology company's stock worth $147,000 after purchasing an additional 21,837 shares during the period. Geode Capital Management LLC raised its stake in Cidara Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 592,724 shares of the biotechnology company's stock valued at $448,000 after purchasing an additional 7,743 shares in the last quarter. Money Concepts Capital Corp bought a new stake in Cidara Therapeutics during the fourth quarter worth about $42,000. Finally, Millennium Management LLC grew its stake in Cidara Therapeutics by 724.1% during the fourth quarter. Millennium Management LLC now owns 689,917 shares of the biotechnology company's stock worth $522,000 after buying an additional 606,201 shares in the last quarter. Institutional investors own 29.09% of the company's stock.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $6.00 price objective on shares of Cidara Therapeutics in a research report on Thursday, December 7th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $4.67.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.