StockNews.com downgraded shares of Cidara Therapeutics (NASDAQ:CDTX – Get Rating) from a strong-buy rating to a buy rating in a research note issued to investors on Monday.
Cidara Therapeutics Stock Performance
CDTX opened at $0.93 on Monday. The firm's 50-day simple moving average is $0.74 and its 200-day simple moving average is $0.69. The firm has a market cap of $66.47 million, a price-to-earnings ratio of -1.69 and a beta of 1.31. Cidara Therapeutics has a twelve month low of $0.40 and a twelve month high of $1.60.
Get Cidara Therapeutics alerts:Cidara Therapeutics (NASDAQ:CDTX – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The biotechnology company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.13). Cidara Therapeutics had a negative net margin of 54.21% and a negative return on equity of 480.89%. The firm had revenue of $40.74 million during the quarter, compared to analyst estimates of $37.50 million. As a group, sell-side analysts anticipate that Cidara Therapeutics will post -0.29 EPS for the current fiscal year.
Institutional Trading of Cidara Therapeutics
A number of large investors have recently bought and sold shares of the business. State Street Corp increased its stake in Cidara Therapeutics by 31.0% during the 3rd quarter. State Street Corp now owns 230,937 shares of the biotechnology company's stock worth $145,000 after purchasing an additional 54,700 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Cidara Therapeutics by 11.8% during the 3rd quarter. Renaissance Technologies LLC now owns 1,293,273 shares of the biotechnology company's stock worth $812,000 after acquiring an additional 137,016 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Cidara Therapeutics during the 3rd quarter worth approximately $34,000. Monashee Investment Management LLC bought a new position in shares of Cidara Therapeutics during the 3rd quarter worth approximately $232,000. Finally, Knott David M Jr grew its stake in shares of Cidara Therapeutics by 9.7% during the 2nd quarter. Knott David M Jr now owns 635,254 shares of the biotechnology company's stock worth $310,000 after acquiring an additional 56,100 shares in the last quarter. 37.81% of the stock is owned by institutional investors.Cidara Therapeutics Company Profile
(Get Rating)
Cidara Therapeutics, Inc is a biotechnology company, which engages in the discovery, development, and commercialization of novel anti-infectives. Its product pipeline includes Rezafungin and Cloudbreak. The company was founded by Kevin M. Forrest, Kevin J. Judice, and H. Shaw Warren in December 2012 and is headquartered in San Diego, CA.
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