Cidara Therapeutics (NASDAQ:CDTX) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Cidara Therapeutics, Inc. (NASDAQ:CDTX)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $21.83 and traded as high as $22.04. Cidara Therapeutics shares last traded at $18.92, with a volume of 151,452 shares.

Wall Street Analysts Forecast Growth

CDTX has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $35.00 target price on shares of Cidara Therapeutics in a research note on Friday, March 7th. Cantor Fitzgerald upgraded Cidara Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 5th. Citigroup started coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating for the company. JMP Securities set a $46.00 price objective on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. Finally, WBB Securities raised their price target on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $39.14.

Cidara Therapeutics Stock Performance

The company has a 50-day simple moving average of $21.83 and a 200-day simple moving average of $18.70. The stock has a market cap of $207.23 million, a P/E ratio of -0.74 and a beta of 0.88.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share 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%. As a group, sell-side analysts expect that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Cidara Therapeutics

In related news, COO Shane Ward sold 1,664 shares of Cidara Therapeutics stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $36,541.44. Following the transaction, the chief operating officer now owns 14,674 shares of the company’s stock, valued at $322,241.04. This trade represents a 10.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leslie Tari sold 1,773 shares of Cidara Therapeutics stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $38,935.08. Following the transaction, the insider now directly owns 16,215 shares in the company, valued at approximately $356,081.40. This represents a 9.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.64% of the company’s stock.

Institutional Investors Weigh In On Cidara Therapeutics

Large investors have recently modified their holdings of the business. BVF Inc. IL raised its holdings in Cidara Therapeutics by 55.4% during the 4th quarter. BVF Inc. IL now owns 1,092,796 shares of the biotechnology company’s stock worth $29,374,000 after buying an additional 389,731 shares during the period. RA Capital Management L.P. lifted its position in shares of Cidara Therapeutics by 55.4% in the fourth quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company’s stock worth $29,374,000 after purchasing an additional 389,716 shares in the last quarter. TCG Crossover Management LLC bought a new position in Cidara Therapeutics in the fourth quarter valued at $26,092,000. VR Adviser LLC acquired a new position in shares of Cidara Therapeutics during the 4th quarter worth about $20,583,000. Finally, Vivo Capital LLC acquired a new stake in shares of Cidara Therapeutics in the fourth quarter valued at about $18,026,000. 35.82% of the stock is currently owned by institutional investors.

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.