Insider Selling: Cidara Therapeutics, Inc. (NASDAQ:CDTX) COO Sells 1,664 Shares of Stock

Cidara Therapeutics, Inc. (NASDAQ:CDTX) COO Shane Ward sold 1,664 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $36,541.44. Following the completion of the transaction, the chief operating officer now directly owns 14,674 shares in the company, valued at $322,241.04. This trade represents a 10.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cidara Therapeutics Price Performance

NASDAQ:CDTX traded down $0.64 during midday trading on Thursday, reaching $22.36. The stock had a trading volume of 84,965 shares, compared to its average volume of 60,830. The stock has a market capitalization of $157.57 million, a P/E ratio of -0.88 and a beta of 0.88. The firm’s fifty day simple moving average is $22.27 and its 200-day simple moving average is $17.67. Cidara Therapeutics, Inc. has a 1-year low of $10.00 and a 1-year high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. On average, equities research analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cidara Therapeutics

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

Wall Street Analyst Weigh In

CDTX has been the subject of several research analyst reports. HC Wainwright upped their price objective on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada initiated coverage on shares of Cidara Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $34.00 target price for the company. Citigroup assumed coverage on shares of Cidara Therapeutics in a research note on Wednesday. They set an “outperform” rating for the company. Citizens Jmp started coverage on shares of Cidara Therapeutics in a report on Wednesday. They issued an “outperform” rating and a $46.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of Cidara Therapeutics in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $39.14.

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.