Cidara Therapeutics, Inc. (NASDAQ:CDTX) Insider Taylor Sandison Sells 924 Shares

Cidara Therapeutics, Inc. (NASDAQ:CDTX) insider Taylor Sandison sold 924 shares of Cidara Therapeutics stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $11.64, for a total transaction of $10,755.36. Following the completion of the sale, the insider now owns 23,067 shares in the company, valued at approximately $268,499.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Cidara Therapeutics Trading Up 5.2 %

Shares of Cidara Therapeutics stock opened at $11.94 on Monday. The firm has a market capitalization of $84.06 million, a P/E ratio of -1.55 and a beta of 1.04. The business has a fifty day simple moving average of $12.17 and a two-hundred day simple moving average of $13.22. Cidara Therapeutics, Inc. has a 12 month low of $10.00 and a 12 month high of $24.40.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of Cidara Therapeutics in a report on Wednesday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a report on Wednesday, August 14th. StockNews.com raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. Finally, HC Wainwright raised Cidara Therapeutics from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $29.67.

Hedge Funds Weigh In On Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. lifted its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,000 shares of the biotechnology company’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.