Insider Buying: Cidara Therapeutics Inc (CDTX) Insider Buys 12,500 Shares of Stock

Cidara Therapeutics Inc (NASDAQ:CDTX) insider Kevin Forrest bought 12,500 shares of the firm’s stock in a transaction on Friday, March 31st. The stock was purchased at an average cost of $7.75 per share, with a total value of $96,875.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Cidara Therapeutics Inc (NASDAQ:CDTX) traded up 1.57% during trading on Thursday, hitting $6.45. 35,529 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $7.14 and its 200 day moving average price is $9.36. Cidara Therapeutics Inc has a 12-month low of $6.30 and a 12-month high of $14.62. The firm’s market cap is $108.37 million.

Cidara Therapeutics (NASDAQ:CDTX) last announced its earnings results on Wednesday, March 15th. The biotechnology company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by $0.09. During the same period in the prior year, the business earned ($0.72) EPS. Equities analysts forecast that Cidara Therapeutics Inc will post ($3.49) earnings per share for the current fiscal year.

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Several research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Cidara Therapeutics in a report on Monday, April 10th. Cantor Fitzgerald reissued a “buy” rating and set a $9.00 price objective on shares of Cidara Therapeutics in a report on Thursday, March 16th. Zacks Investment Research cut shares of Cidara Therapeutics from a “buy” rating to a “sell” rating in a report on Monday, March 20th. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Cidara Therapeutics in a report on Monday, April 10th. Finally, Ladenburg Thalmann Financial Services started coverage on shares of Cidara Therapeutics in a report on Wednesday, April 12th. They set a “buy” rating and a $11.25 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Cidara Therapeutics currently has an average rating of “Buy” and a consensus price target of $12.85.

A number of large investors have recently made changes to their positions in the company. Oxford Asset Management acquired a new stake in shares of Cidara Therapeutics during the fourth quarter valued at about $133,000. Teachers Advisors LLC boosted its position in shares of Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 2,458 shares during the last quarter. Spark Investment Management LLC boosted its position in shares of Cidara Therapeutics by 2.7% in the third quarter. Spark Investment Management LLC now owns 15,100 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 400 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Cidara Therapeutics during the fourth quarter valued at $173,000. Finally, Turner Investments LLC boosted its position in shares of Cidara Therapeutics by 7.3% in the fourth quarter. Turner Investments LLC now owns 29,451 shares of the biotechnology company’s stock valued at $306,000 after buying an additional 2,000 shares during the last quarter. 47.34% of the stock is currently owned by institutional investors.

About Cidara Therapeutics

Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.

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