Shane Ward Sells 9,959 Shares of Cidara Therapeutics (NASDAQ:CDTX) Stock

Cidara Therapeutics, Inc. (NASDAQ:CDTX) COO Shane Ward sold 9,959 shares of Cidara Therapeutics stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $220.08, for a total value of $2,191,776.72. Following the completion of the sale, the chief operating officer directly owned 25,033 shares in the company, valued at approximately $5,509,262.64. This represents a 28.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cidara Therapeutics Trading Up 0.2%

CDTX traded up $0.46 on Friday, reaching $220.65. The stock had a trading volume of 555,920 shares, compared to its average volume of 2,277,356. The firm has a 50-day moving average of $152.39 and a 200-day moving average of $89.18. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of -18.73 and a beta of 1.46. Cidara Therapeutics, Inc. has a fifty-two week low of $15.22 and a fifty-two week high of $221.20.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.24). Sell-side analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on CDTX. WBB Securities lifted their price target on Cidara Therapeutics from $123.00 to $199.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 9th. Guggenheim lowered shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, November 18th. Royal Bank Of Canada cut shares of Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research report on Monday, November 17th. Citigroup reaffirmed a “market outperform” rating on shares of Cidara Therapeutics in a research report on Tuesday, October 21st. Finally, JMP Securities set a $173.00 price objective on Cidara Therapeutics and gave the stock a “market outperform” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cidara Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $156.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CDTX. Bain Capital Life Sciences Investors LLC boosted its stake in Cidara Therapeutics by 255.7% during 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 during the last quarter. Vivo Capital LLC lifted 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 valued at $63,880,000 after acquiring an additional 627,149 shares during the last quarter. Vanguard Group Inc. raised its position in Cidara Therapeutics by 27.3% during the third quarter. Vanguard Group Inc. now owns 1,230,666 shares of the biotechnology company’s stock valued at $117,849,000 after purchasing an additional 263,961 shares during the period. Commodore Capital LP bought a new stake in shares of Cidara Therapeutics in the 2nd quarter valued at approximately $57,234,000. Finally, Adage Capital Partners GP L.L.C. lifted its position in Cidara Therapeutics by 11.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,100,000 shares of the biotechnology company’s stock worth $53,581,000 after buying an additional 110,000 shares during the last quarter. 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.