Cidara Therapeutics, Inc. (NASDAQ:CDTX) COO Sells $36,541.44 in Stock

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) 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 transaction of $36,541.44. Following the transaction, the chief operating officer now owns 14,674 shares of the company's stock, valued at $322,241.04. This trade represents a 10.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Cidara Therapeutics Price Performance

CDTX stock traded up $0.22 during midday trading on Monday, reaching $22.27. 90,681 shares of the company's stock traded hands, compared to its average volume of 61,107. The company has a market capitalization of $156.94 million, a P/E ratio of -0.87 and a beta of 0.88. The business has a 50-day moving average price of $22.08 and a two-hundred day moving average price of $17.84. Cidara Therapeutics, Inc. has a fifty-two week low of $10.00 and a fifty-two week high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last posted its earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, research analysts forecast that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current fiscal year.

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Analysts Set New Price Targets

CDTX has been the subject of several recent research reports. Needham & Company LLC reissued a "buy" rating and set a $35.00 price target on shares of Cidara Therapeutics in a research report on Friday, March 7th. Royal Bank of Canada started coverage on shares of Cidara Therapeutics in a research note on Friday, December 13th. They set an "outperform" rating and a $34.00 price target on the stock. Cantor Fitzgerald raised shares of Cidara Therapeutics to a "strong-buy" rating in a research report on Wednesday, February 5th. Citigroup assumed coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating on the stock. Finally, JMP Securities set a $46.00 price target on Cidara Therapeutics in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Cidara Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $39.14.

Hedge Funds Weigh In On Cidara Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. VR Adviser LLC acquired a new stake in Cidara Therapeutics in the fourth quarter valued at $20,583,000. Stempoint Capital LP bought a new stake in shares of Cidara Therapeutics in the 4th quarter valued at approximately $1,281,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cidara Therapeutics in the 4th quarter valued at approximately $56,000. Point72 Asset Management L.P. acquired a new stake in shares of Cidara Therapeutics during the 4th quarter valued at approximately $165,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Cidara Therapeutics during the fourth quarter worth $339,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

About Cidara Therapeutics

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.