StockNews.com initiated coverage on shares of Cidara Therapeutics (NASDAQ:CDTX – Get Rating) in a research note issued to investors on Monday. The firm set a “hold” rating on the biotechnology company’s stock.
A number of other equities research analysts also recently weighed in on CDTX. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of Cidara Therapeutics in a research note on Tuesday, March 8th. Zacks Investment Research raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday. HC Wainwright cut their price objective on Cidara Therapeutics from $7.50 to $6.00 in a research note on Thursday, May 12th. Finally, Aegis reissued a “buy” rating on shares of Cidara Therapeutics in a research note on Wednesday, March 16th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $5.50.
CDTX opened at $0.43 on Monday. Cidara Therapeutics has a fifty-two week low of $0.41 and a fifty-two week high of $2.39. The business has a 50-day moving average of $0.67 and a 200-day moving average of $0.91. The company has a market capitalization of $29.67 million, a PE ratio of -0.60 and a beta of 1.37.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jeppson Wealth Management LLC grew its holdings in Cidara Therapeutics by 15.4% in the 3rd quarter. Jeppson Wealth Management LLC now owns 60,100 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 8,000 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Cidara Therapeutics in the 3rd quarter valued at approximately $28,000. Geode Capital Management LLC grew its holdings in Cidara Therapeutics by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 381,618 shares of the biotechnology company’s stock valued at $854,000 after buying an additional 17,456 shares during the last quarter. State Street Corp grew its holdings in Cidara Therapeutics by 14.1% in the 1st quarter. State Street Corp now owns 176,237 shares of the biotechnology company’s stock valued at $147,000 after buying an additional 21,837 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Cidara Therapeutics by 1.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,437,845 shares of the biotechnology company’s stock valued at $1,197,000 after buying an additional 23,588 shares during the last quarter. 58.20% of the stock is currently owned by hedge funds and other institutional investors.
About Cidara Therapeutics (Get Rating)
Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.
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