Cidara Therapeutics, Inc. (NASDAQ:CDTX) Insider Sells $10,755.36 in Stock

Cidara Therapeutics, Inc. (NASDAQ:CDTX) insider Taylor Sandison sold 924 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $11.64, for a total transaction of $10,755.36. Following the transaction, the insider now directly owns 23,067 shares of the company’s stock, valued at $268,499.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Cidara Therapeutics Trading Up 5.2 %

CDTX stock opened at $11.94 on Friday. Cidara Therapeutics, Inc. has a 1-year low of $10.00 and a 1-year high of $24.40. The business’s 50-day moving average price is $12.17 and its two-hundred day moving average price is $13.24. The firm has a market cap of $84.06 million, a PE ratio of -1.55 and a beta of 1.04.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share for the quarter, beating the consensus estimate of ($3.94) by $1.89. Cidara Therapeutics had a negative return on equity of 109.89% and a negative net margin of 289.05%. The business had revenue of $0.30 million for the quarter. On average, analysts forecast that Cidara Therapeutics, Inc. will post -12.06 earnings per share for the current year.

Analyst Ratings Changes

CDTX has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cidara Therapeutics in a report on Wednesday, August 14th. StockNews.com upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. Finally, HC Wainwright upgraded Cidara Therapeutics from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $29.67.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. boosted its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 as of its most recent SEC filing. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.