Key Points
- CEO Jeffrey Stein purchased 2,500 shares of Cidara (NASDAQ:CDTX) on Nov. 10 at an average price of $40.01 for about $100,025, boosting his holdings to 69,371 shares (a 3.74% increase) and disclosed via an SEC filing.
- Cidara is a clinical‑stage biotech focused on long‑acting anti‑infectives (lead asset rezafungin is a once‑weekly IV antifungal in late‑stage development); the company recently missed quarterly EPS estimates and carries an average analyst rating of "Hold" with a $156.11 average price target.
Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) CEO Jeffrey Stein purchased 2,500 shares of the firm's stock in a transaction on Tuesday, November 10th. The stock was acquired at an average cost of $40.01 per share, for a total transaction of $100,025.00. Following the completion of the purchase, the chief executive officer owned 69,371 shares in the company, valued at $2,775,533.71. The trade was a 3.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Cidara Therapeutics Price Performance
NASDAQ CDTX opened at $221.38 on Thursday. The company has a market cap of $6.96 billion, a P/E ratio of -18.79 and a beta of 1.52. Cidara Therapeutics, Inc. has a 12 month low of $15.22 and a 12 month high of $221.42. The company has a 50-day moving average of $194.68 and a 200-day moving average of $114.50.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.24). As a group, equities research analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Amalgamated Bank acquired a new stake in shares of Cidara Therapeutics during the 2nd quarter valued at approximately $28,000. Tower Research Capital LLC TRC boosted its holdings in Cidara Therapeutics by 66.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,556 shares of the biotechnology company's stock worth $76,000 after purchasing an additional 623 shares during the period. Trifecta Capital Advisors LLC bought a new stake in Cidara Therapeutics during the second quarter valued at $49,000. California State Teachers Retirement System acquired a new stake in shares of Cidara Therapeutics during the second quarter worth $51,000. Finally, Raymond James Financial Inc. lifted its position in shares of Cidara Therapeutics by 35.6% in the 3rd quarter. Raymond James Financial Inc. now owns 4,060 shares of the biotechnology company's stock worth $389,000 after buying an additional 1,066 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Citigroup reiterated a "market outperform" rating on shares of Cidara Therapeutics in a research note on Tuesday, October 21st. Guggenheim downgraded shares of Cidara Therapeutics from a "buy" rating to a "hold" rating in a research report on Tuesday, November 18th. Needham & Company LLC downgraded shares of Cidara Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, November 14th. JMP Securities set a $173.00 price target on shares of Cidara Therapeutics and gave the company a "market outperform" rating in a report on Friday, October 3rd. Finally, HC Wainwright lowered shares of Cidara Therapeutics from a "buy" rating to a "neutral" rating in a report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $156.11.
Get Our Latest Stock Analysis on CDTX
Cidara Therapeutics Company Profile
(
Get Free Report)
Cidara Therapeutics, Inc is a clinical‐stage biotechnology company focused on the discovery and development of long‐acting anti‐infectives and immunotherapies to address life‐threatening fungal, viral and bacterial infections. The company's core technology platforms, including its proprietary CD‐MONT and Cloudbreak platforms, are designed to create novel therapeutic candidates with extended half‐lives and differentiated mechanisms of action. By leveraging its expertise in macromolecular conjugates and immunotherapeutic design, Cidara seeks to offer new treatment options that can reduce dosing frequency and improve patient outcomes in critical care settings.
The company's lead asset, rezafungin, is a once‐weekly intravenous echinocandin antifungal in late‐stage development for the prevention and treatment of invasive candidiasis and other serious fungal infections.
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