Insider Selling: Cidara Therapeutics, Inc. (NASDAQ:CDTX) Insider Sells $38,935.08 in Stock

Cidara Therapeutics, Inc. (NASDAQ:CDTX) insider Leslie Tari sold 1,773 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $38,935.08. Following the completion of the sale, the insider now owns 16,215 shares in the company, valued at $356,081.40. The trade was a 9.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cidara Therapeutics Stock Performance

Shares of Cidara Therapeutics stock opened at $22.05 on Friday. The firm has a market capitalization of $155.39 million, a price-to-earnings ratio of -0.86 and a beta of 0.88. Cidara Therapeutics, Inc. has a fifty-two week low of $10.00 and a fifty-two week high of $28.42. The stock has a 50 day moving average of $22.08 and a 200 day moving average of $17.80.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. Analysts forecast that Cidara Therapeutics, Inc. will post -8.74 EPS for the current year.

Institutional Trading of Cidara Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cidara Therapeutics in the fourth quarter valued at $56,000. Point72 Asset Management L.P. purchased a new position in shares of Cidara Therapeutics during the fourth quarter worth about $165,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Cidara Therapeutics during the fourth quarter worth about $339,000. Jane Street Group LLC acquired a new position in Cidara Therapeutics during the 4th quarter worth approximately $342,000. Finally, Boothbay Fund Management LLC acquired a new position in Cidara Therapeutics during the 4th quarter worth approximately $419,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CDTX. Citizens Jmp began coverage on Cidara Therapeutics in a research note on Wednesday. They issued an “outperform” rating and a $46.00 target price on the stock. JMP Securities set a $46.00 price target on Cidara Therapeutics in a report on Wednesday. WBB Securities upped their price target on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a report on Thursday, December 5th. Cantor Fitzgerald raised Cidara Therapeutics to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price target on shares of Cidara Therapeutics in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $39.14.

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.