Cidara Therapeutics, Inc. (CDTX) Lowered to “Sell” at Zacks Investment Research
Cidara Therapeutics, Inc. (NASDAQ:CDTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
According to Zacks, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California. “
A number of other equities research analysts have also issued reports on CDTX. WBB Securities upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research note on Friday. ValuEngine upgraded Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, July 14th. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Cidara Therapeutics in a research note on Tuesday, May 16th. Finally, BTIG Research reiterated a “buy” rating and issued a $20.00 price target (up previously from $15.00) on shares of Cidara Therapeutics in a research note on Saturday, April 29th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $13.14.
Shares of Cidara Therapeutics (NASDAQ CDTX) traded down 4.88% during trading on Monday, hitting $5.85. The stock had a trading volume of 125,444 shares. Cidara Therapeutics has a 1-year low of $5.65 and a 1-year high of $12.95. The firm’s market capitalization is $98.63 million. The stock’s 50-day moving average price is $7.28 and its 200 day moving average price is $7.51.
Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.91) by $0.08. On average, analysts anticipate that Cidara Therapeutics will post ($3.58) earnings per share for the current year.
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In other news, CEO Jeffrey Stein acquired 15,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was purchased at an average price of $5.95 per share, for a total transaction of $89,250.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Taylor Sandison acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were purchased at an average price of $5.90 per share, with a total value of $118,000.00. The disclosure for this purchase can be found here. Company insiders own 18.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Trexquant Investment LP purchased a new position in shares of Cidara Therapeutics during the second quarter worth $110,000. Citadel Advisors LLC acquired a new position in shares of Cidara Therapeutics during the second quarter worth approximately $129,000. Teachers Advisors LLC increased its position in shares of Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock worth $172,000 after buying an additional 2,458 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Cidara Therapeutics during the fourth quarter worth approximately $173,000. Finally, JPMorgan Chase & Co. increased its position in shares of Cidara Therapeutics by 455.6% in the first quarter. JPMorgan Chase & Co. now owns 25,639 shares of the biotechnology company’s stock worth $200,000 after buying an additional 21,024 shares during the last quarter. Hedge funds and other institutional investors own 68.22% of the company’s stock.
About Cidara Therapeutics
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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