StockNews.com upgraded shares of Cidara Therapeutics (NASDAQ:CDTX - Free Report) to a sell rating in a research report sent to investors on Saturday morning.
A number of other equities analysts have also recently issued reports on CDTX. Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a "strong-buy" rating in a research report on Wednesday, February 5th. Guggenheim upped their price target on shares of Cidara Therapeutics from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Citigroup initiated coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating for the company. Citizens Jmp assumed coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 price objective for the company. Finally, HC Wainwright upped their target price on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Cidara Therapeutics has an average rating of "Buy" and an average target price of $39.57.
Get Our Latest Analysis on CDTX
Cidara Therapeutics Stock Performance
CDTX stock traded up $0.82 during trading on Friday, reaching $20.13. 108,046 shares of the company were exchanged, compared to its average volume of 73,361. The company has a market cap of $252.57 million, a P/E ratio of -0.79 and a beta of 0.86. Cidara Therapeutics has a 52-week low of $10.14 and a 52-week high of $28.42. The stock's 50 day moving average price is $20.31 and its 200 day moving average price is $20.45.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.66) EPS for the quarter, topping analysts' consensus estimates of ($5.45) by $3.79. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. As a group, equities research analysts forecast that Cidara Therapeutics will post -8.74 EPS for the current year.
Insider Transactions at Cidara Therapeutics
In other news, COO Shane Ward sold 1,664 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $36,541.44. Following the transaction, the chief operating officer now directly owns 14,674 shares in the company, valued at approximately $322,241.04. This trade represents a 10.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Leslie Tari sold 1,773 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $38,935.08. Following the completion of the transaction, the insider now owns 16,215 shares in the company, valued at approximately $356,081.40. The trade was a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.89% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Cidara Therapeutics by 22.7% in the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company's stock worth $569,000 after buying an additional 9,771 shares during the last quarter. Vivo Capital LLC bought a new stake in Cidara Therapeutics in the 4th quarter valued at about $18,026,000. Boothbay Fund Management LLC bought a new stake in Cidara Therapeutics in the 4th quarter valued at about $419,000. RA Capital Management L.P. lifted its position in Cidara Therapeutics by 55.4% in the 4th quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company's stock valued at $29,374,000 after purchasing an additional 389,716 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in Cidara Therapeutics by 154.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 49,557 shares of the biotechnology company's stock valued at $1,332,000 after purchasing an additional 30,057 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors.
Cidara Therapeutics Company Profile
(
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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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