Cidara Therapeutics (NASDAQ:CDTX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) to a sell rating in a research report sent to investors on Saturday morning.

Several other equities research analysts also recently issued reports on CDTX. Needham & Company LLC downgraded Cidara Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, November 14th. JPMorgan Chase & Co. lowered shares of Cidara Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, November 17th. Royal Bank Of Canada cut shares of Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a report on Monday, November 17th. Citigroup reiterated a “market outperform” rating on shares of Cidara Therapeutics in a research note on Tuesday, October 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cidara Therapeutics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cidara Therapeutics currently has a consensus rating of “Hold” and an average target price of $156.11.

Cidara Therapeutics Trading Up 0.0%

CDTX opened at $221.38 on Friday. The company has a fifty day simple moving average of $201.55 and a 200 day simple moving average of $118.65. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of -18.79 and a beta of 1.52. Cidara Therapeutics has a twelve month low of $15.22 and a twelve month high of $221.42.

Cidara Therapeutics (NASDAQ:CDTX) last announced its earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.24). On average, analysts forecast that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cidara Therapeutics news, COO Shane Ward sold 9,959 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $220.08, for a total value 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. This trade represents a 28.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cidara Therapeutics

Several institutional investors have recently modified their holdings of CDTX. Bain Capital Life Sciences Investors LLC increased its holdings in shares of Cidara Therapeutics by 255.7% in the second quarter. Bain Capital Life Sciences Investors LLC now owns 2,500,680 shares of the biotechnology company’s stock valued at $121,808,000 after buying an additional 1,797,600 shares in the last quarter. Vivo Capital LLC grew its holdings in shares of Cidara Therapeutics by 91.7% in the 2nd quarter. Vivo Capital LLC now owns 1,311,425 shares of the biotechnology company’s stock worth $63,880,000 after acquiring an additional 627,149 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Cidara Therapeutics by 27.3% during the third quarter. Vanguard Group Inc. now owns 1,230,666 shares of the biotechnology company’s stock worth $117,849,000 after purchasing an additional 263,961 shares during the period. Commodore Capital LP purchased a new stake in shares of Cidara Therapeutics during the second quarter valued at $57,234,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Cidara Therapeutics by 11.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,100,000 shares of the biotechnology company’s stock valued at $53,581,000 after purchasing an additional 110,000 shares during the last quarter. Institutional investors own 35.82% of the company’s stock.

About Cidara Therapeutics

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.