Cidara Therapeutics, Inc. (NASDAQ:CDTX – Get Free Report)’s stock price was up 7.1% during trading on Wednesday . The stock traded as high as $11.34 and last traded at $10.98. Approximately 23,896 shares traded hands during trading, a decline of 33% from the average daily volume of 35,403 shares. The stock had previously closed at $10.25.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a report on Tuesday. HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Cidara Therapeutics in a research report on Monday, April 8th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.33.
Read Our Latest Report on Cidara Therapeutics
Cidara Therapeutics Trading Up 19.9 %
Institutional Trading of Cidara Therapeutics
Several large investors have recently added to or reduced their stakes in CDTX. Raymond James Financial Services Advisors Inc. increased its position in shares of Cidara Therapeutics by 25.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 15,912 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Cidara Therapeutics in the third quarter worth $28,000. Finally, Pale Fire Capital SE acquired a new stake in shares of Cidara Therapeutics in the 3rd quarter valued at about $51,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.
Cidara Therapeutics Company Profile
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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