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 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 completion of the sale, the insider now directly owns 23,067 shares in the company, valued at $268,499.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cidara Therapeutics Price Performance

Shares of NASDAQ CDTX opened at $11.94 on Monday. Cidara Therapeutics, Inc. has a one year low of $10.00 and a one year high of $24.40. The firm’s 50 day simple moving average is $12.17 and its two-hundred day simple moving average is $13.22. The stock has a market capitalization of $84.06 million, a P/E ratio of -1.55 and a beta of 1.04.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) EPS for the quarter, beating analysts’ consensus estimates of ($3.94) by $1.89. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 109.89%. The business had revenue of $0.30 million for the quarter. As a group, equities analysts expect that Cidara Therapeutics, Inc. will post -12.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. raised its holdings in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned about 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent reporting period. 35.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CDTX has been the topic of a number of 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 issued a $25.00 target price on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. StockNews.com raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday. Finally, HC Wainwright raised shares of Cidara Therapeutics from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $29.67.

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.