Cidara Therapeutics (NASDAQ:CDTX) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) to a sell rating in a report issued on Saturday morning.

A number of other equities analysts also recently issued reports on the stock. HC Wainwright downgraded shares of Cidara Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Needham & Company LLC cut shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 14th. WBB Securities upped their price objective 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. JPMorgan Chase & Co. downgraded Cidara Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, November 17th. Finally, JMP Securities set a $173.00 price target on Cidara Therapeutics and gave the stock a “market outperform” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cidara Therapeutics presently has an average rating of “Hold” and an average price target of $156.11.

Cidara Therapeutics Stock Performance

Cidara Therapeutics stock opened at $221.38 on Friday. Cidara Therapeutics has a one year low of $15.22 and a one year high of $221.42. The stock has a fifty day moving average of $199.17 and a 200 day moving average of $116.95. The stock has a market cap of $6.96 billion, a PE ratio of -18.79 and a beta of 1.52.

Cidara Therapeutics (NASDAQ:CDTX) last announced its earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.24). As a group, sell-side analysts predict that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

Insider Activity

In related news, COO Shane Ward sold 9,959 shares of Cidara Therapeutics stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $220.08, for a total transaction of $2,191,776.72. Following the sale, the chief operating officer owned 25,033 shares of the company’s stock, valued at approximately $5,509,262.64. This trade represents a 28.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.89% of the company’s stock.

Institutional Investors Weigh In On Cidara Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CDTX. Bain Capital Life Sciences Investors LLC lifted its holdings in shares of Cidara Therapeutics by 255.7% in the second quarter. Bain Capital Life Sciences Investors LLC now owns 2,500,680 shares of the biotechnology company’s stock worth $121,808,000 after buying an additional 1,797,600 shares in the last quarter. Commodore Capital LP purchased a new stake in Cidara Therapeutics in the 2nd quarter worth $57,234,000. Paradigm Biocapital Advisors LP purchased a new stake in Cidara Therapeutics in the 3rd quarter worth $92,041,000. Vivo Capital LLC boosted its holdings in shares of Cidara Therapeutics by 91.7% during the 2nd quarter. Vivo Capital LLC now owns 1,311,425 shares of the biotechnology company’s stock valued at $63,880,000 after purchasing an additional 627,149 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new position in shares of Cidara Therapeutics during the third quarter valued at about $48,156,000. Institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc is a clinical‐stage biotechnology company focused on the discovery and development of long‐acting anti‐infectives and immunotherapies to address life‐threatening fungal, viral and bacterial infections. The company’s core technology platforms, including its proprietary CD‐MONT and Cloudbreak platforms, are designed to create novel therapeutic candidates with extended half‐lives and differentiated mechanisms of action. By leveraging its expertise in macromolecular conjugates and immunotherapeutic design, Cidara seeks to offer new treatment options that can reduce dosing frequency and improve patient outcomes in critical care settings.

The company’s lead asset, rezafungin, is a once‐weekly intravenous echinocandin antifungal in late‐stage development for the prevention and treatment of invasive candidiasis and other serious fungal infections.