Cidara Therapeutics Sees Unusually Large Options Volume (NASDAQ:CDTX)

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) was the recipient of some unusual options trading on Monday. Investors acquired 2,912 put options on the stock. This is an increase of approximately 354% compared to the typical daily volume of 642 put options.

Cidara Therapeutics Trading Down 2.6%

Shares of NASDAQ CDTX traded down $1.30 during midday trading on Thursday, reaching $48.03. The company's stock had a trading volume of 1,937,866 shares, compared to its average volume of 152,027. Cidara Therapeutics has a one year low of $10.14 and a one year high of $56.83. The company has a market cap of $602.78 million, a price-to-earnings ratio of -1.63 and a beta of 0.79. The company has a 50 day moving average price of $24.44 and a 200 day moving average price of $22.70.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($5.45) by $3.79. Research analysts anticipate that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cidara Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cidara Therapeutics in the 4th quarter worth about $56,000. Point72 Asset Management L.P. purchased a new position in shares of Cidara Therapeutics in the fourth quarter worth approximately $165,000. American Century Companies Inc. purchased a new position in shares of Cidara Therapeutics in the first quarter worth approximately $224,000. West Michigan Advisors LLC acquired a new stake in shares of Cidara Therapeutics during the first quarter valued at approximately $291,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Cidara Therapeutics in the 4th quarter valued at approximately $339,000. 35.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CDTX. Cantor Fitzgerald reissued an "overweight" rating on shares of Cidara Therapeutics in a research note on Tuesday, June 10th. WBB Securities reissued a "strong-buy" rating and set a $45.00 target price on shares of Cidara Therapeutics in a research note on Monday. Wall Street Zen upgraded shares of Cidara Therapeutics to a "sell" rating in a research report on Saturday, May 10th. Citizens Jmp began coverage on shares of Cidara Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 price objective for the company. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Cidara Therapeutics in a report on Tuesday. 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.71.

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.