Leslie Tari Sells 1,773 Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) Stock

Cidara Therapeutics, Inc. (NASDAQ:CDTX) insider Leslie Tari sold 1,773 shares of the stock in a transaction on 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 transaction, the insider now directly owns 16,215 shares in the company, valued at $356,081.40. This trade represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Cidara Therapeutics Price Performance

Shares of CDTX opened at $22.05 on Friday. The company has a market capitalization of $155.39 million, a PE ratio of -0.86 and a beta of 0.88. Cidara Therapeutics, Inc. has a one year low of $10.00 and a one year high of $28.42. The company’s fifty day moving average price is $22.08 and its 200 day moving average price is $17.80.

Cidara Therapeutics (NASDAQ:CDTX) last announced its 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 anticipate that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Cantor Fitzgerald upgraded Cidara Therapeutics to a “strong-buy” rating in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 price target on shares of Cidara Therapeutics in a research report on Friday, March 7th. HC Wainwright lifted their price target on Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a report on Monday, March 10th. Citizens Jmp started coverage on Cidara Therapeutics in a report on Wednesday. They set an “outperform” rating and a $46.00 price target on the stock. Finally, Citigroup started coverage on shares of Cidara Therapeutics in a research note on Wednesday. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $39.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cidara Therapeutics during the 4th quarter worth about $56,000. Northern Trust Corp increased its stake in Cidara Therapeutics by 6.8% in the fourth quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company’s stock valued at $913,000 after acquiring an additional 2,170 shares during the period. Point72 Asset Management L.P. bought a new stake in Cidara Therapeutics in the fourth quarter valued at about $165,000. Geode Capital Management LLC increased its stake in Cidara Therapeutics by 22.7% in the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock valued at $569,000 after acquiring an additional 9,771 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new stake in Cidara Therapeutics in the fourth quarter valued at about $339,000. Institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

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.