Cidara Therapeutics (NASDAQ:CDTX) Lowered to Sell at StockNews.com

StockNews.com lowered shares of Cidara Therapeutics (NASDAQ:CDTX) from a hold rating to a sell rating in a research note released on Thursday morning.

A number of other equities research analysts have also recently commented on CDTX. Needham & Company LLC restated a buy rating and issued a $25.00 price target on shares of Cidara Therapeutics in a report on Wednesday, August 14th. Cantor Fitzgerald restated an overweight rating on shares of Cidara Therapeutics in a report on Wednesday, August 14th. WBB Securities restated a strong-buy rating and issued a $40.00 price target on shares of Cidara Therapeutics in a report on Thursday, April 25th. Finally, HC Wainwright raised shares of Cidara Therapeutics from a neutral rating to a buy rating and set a $24.00 price objective on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $29.67.

Cidara Therapeutics Stock Up 1.2 %

CDTX opened at $12.79 on Thursday. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $24.40. The company has a fifty day moving average of $12.21 and a 200-day moving average of $13.46. The stock has a market cap of $58.35 million, a PE ratio of -1.67 and a beta of 1.01.

Insider Activity at Cidara Therapeutics

In other news, CEO Jeffrey Stein purchased 8,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average cost of $13.21 per share, with a total value of $105,680.00. Following the completion of the transaction, the chief executive officer now directly owns 24,580 shares of the company’s stock, valued at $324,701.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. increased its position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned approximately 3.57% of Cidara Therapeutics worth $150,000 as of its most recent filing with the Securities and Exchange Commission. 35.82% of the stock is owned by institutional investors.

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.