Key Points
- COO Shane Ward sold 9,959 shares on Dec. 10 at an average price of $220.08 for proceeds of about $2.19 million, trimming his stake by 28.46% to 25,033 shares; the transaction was disclosed in an SEC filing.
- Cidara Therapeutics (NASDAQ:CDTX) is trading near its 12‑month high (opened $220.65) with a market cap of about $6.94 billion, a 50‑day/200‑day moving average of $152.39/$89.18, and a 12‑month range of $15.22–$221.20.
- The company recently reported an EPS miss (‑$1.43 vs. consensus ‑$1.19) and faces mixed analyst coverage — a consensus rating of "Hold" with a $156.11 target amid several downgrades.
Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) COO Shane Ward sold 9,959 shares of the company's stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $220.08, for a total transaction of $2,191,776.72. Following the sale, the chief operating officer directly owned 25,033 shares of the company's stock, valued at $5,509,262.64. The trade was a 28.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Cidara Therapeutics Trading Up 0.2%
NASDAQ:CDTX opened at $220.65 on Friday. The company has a market cap of $6.94 billion, a P/E ratio of -18.73 and a beta of 1.46. Cidara Therapeutics, Inc. has a twelve month low of $15.22 and a twelve month high of $221.20. The company's 50-day moving average price is $152.39 and its 200-day moving average price is $89.18.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.24). On average, analysts expect that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages recently commented on CDTX. Guggenheim downgraded Cidara Therapeutics from a "buy" rating to a "hold" rating in a research report on Tuesday, November 18th. Citigroup reaffirmed a "market outperform" rating on shares of Cidara Therapeutics in a research note on Tuesday, October 21st. Royal Bank Of Canada lowered Cidara Therapeutics from an "outperform" rating to a "sector perform" rating in a report on Monday, November 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cidara Therapeutics in a report on Wednesday, October 8th. Finally, HC Wainwright downgraded shares of Cidara Therapeutics from a "buy" rating to a "neutral" rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cidara Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $156.11.
Check Out Our Latest Stock Analysis on CDTX
Institutional Trading of Cidara Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of CDTX. Amalgamated Bank purchased a new stake in Cidara Therapeutics in the 2nd quarter valued at about $28,000. Trifecta Capital Advisors LLC acquired a new stake in shares of Cidara Therapeutics during the second quarter valued at about $49,000. California State Teachers Retirement System purchased a new stake in shares of Cidara Therapeutics in the 2nd quarter valued at approximately $51,000. Legal & General Group Plc purchased a new stake in shares of Cidara Therapeutics in the 2nd quarter valued at approximately $73,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Cidara Therapeutics by 66.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,556 shares of the biotechnology company's stock worth $76,000 after acquiring an additional 623 shares during the last quarter. 35.82% of the stock is owned by institutional investors and hedge funds.
Cidara Therapeutics Company Profile
(
Get Free Report)
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.
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