Cidara Therapeutics' (CDTX) "Overweight" Rating Reaffirmed at Cantor Fitzgerald

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at Cantor Fitzgerald in a research note issued on Tuesday, Benzinga reports.

Separately, HC Wainwright reiterated a "buy" rating and set a $6.00 price target on shares of Cidara Therapeutics in a report on Monday, April 8th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $4.67.

Cidara Therapeutics Price Performance

Shares of Cidara Therapeutics stock remained flat at $0.51 on Tuesday. The stock had a trading volume of 1,864,177 shares, compared to its average volume of 710,433. The firm has a market cap of $46.44 million, a P/E ratio of -1.31 and a beta of 0.98. Cidara Therapeutics has a one year low of $0.50 and a one year high of $1.48. The firm's 50 day moving average is $0.77 and its 200-day moving average is $0.77.

Shares of Cidara Therapeutics are going to reverse split on the morning of Wednesday, April 24th. The 1-20 reverse split was announced on Wednesday, April 24th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, April 24th.

Hedge Funds Weigh In On Cidara Therapeutics

Several large investors have recently modified their holdings of CDTX. Raymond James Financial Services Advisors Inc. increased its stake in shares of Cidara Therapeutics by 25.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company's stock worth $75,000 after purchasing an additional 15,912 shares during the period. Pale Fire Capital SE acquired a new position in Cidara Therapeutics in the 3rd quarter valued at $51,000. Finally, Flagship Harbor Advisors LLC bought a new position in Cidara Therapeutics during the 3rd quarter worth $28,000. 35.82% of the stock is owned by institutional investors.

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.