Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) insider Leslie Tari sold 1,773 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $38,935.08. Following the transaction, the insider now owns 16,215 shares in the company, valued at $356,081.40. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Cidara Therapeutics Trading Up 1.0 %
Shares of Cidara Therapeutics stock traded up $0.22 on Monday, hitting $22.27. The stock had a trading volume of 90,681 shares, compared to its average volume of 61,107. The stock has a market cap of $156.94 million, a price-to-earnings ratio of -0.87 and a beta of 0.88. Cidara Therapeutics, Inc. has a 52-week low of $10.00 and a 52-week high of $28.42. The company's 50 day moving average price is $22.08 and its 200 day moving average price is $17.84.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. Analysts predict that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently issued reports on CDTX shares. Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a "strong-buy" rating in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $35.00 target price on shares of Cidara Therapeutics in a research note on Friday, March 7th. Royal Bank of Canada initiated coverage on shares of Cidara Therapeutics in a research report on Friday, December 13th. They issued an "outperform" rating and a $34.00 price target for the company. HC Wainwright upped their price objective on Cidara Therapeutics from $24.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Citigroup initiated coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Cidara Therapeutics presently has an average rating of "Buy" and a consensus price target of $39.14.
Read Our Latest Report on CDTX
Institutional Investors Weigh In On Cidara Therapeutics
Several hedge funds have recently modified their holdings of CDTX. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cidara Therapeutics in the fourth quarter valued at about $56,000. Northern Trust Corp lifted its position in Cidara Therapeutics by 6.8% in the fourth quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock valued at $913,000 after purchasing an additional 2,170 shares during the period. Point72 Asset Management L.P. purchased a new stake in Cidara Therapeutics in the 4th quarter valued at approximately $165,000. Geode Capital Management LLC increased its position in Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company's stock worth $569,000 after purchasing an additional 9,771 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Cidara Therapeutics during the 4th quarter worth approximately $339,000. 35.82% of the stock is owned by institutional investors and hedge funds.
About Cidara Therapeutics
(
Get Free Report)
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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