Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cidara Therapeutics Inc. shares valued at $14,177 were sold by Tari Leslie on Jan 12. At $1.20 per share, Tari Leslie sold 11,814 shares. The insider’s holdings dropped to 1,484 shares worth approximately $2686.04 following the completion of this transaction.
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Also, Shah Preetam sold 15,642 shares, netting a total of over 12,035 in proceeds. Following the sale of shares at $0.77 each, the insider now holds 150,789 shares.
Before that, Sandison Taylor had sold 18,478 shares from its account. In a trade valued at $12,656, the Chief Medical Officer traded Cidara Therapeutics Inc. shares for $0.68 each. Upon closing the transaction, the insider’s holdings decreased to 18,478 shares, worth approximately $0.53 million.
Analysts at WBB Securities upgraded the stock from ‘”a Buy”‘ to ‘”a Strong buy”‘ outlook in a report released in late September. As of March 04, 2021, Aegis Capital has initiated its “Buy” rating for CDTX. Earlier on September 04, 2019, Wedbush upgraded its rating. Their new recommendation was “an Outperform” for CDTX stock which previously was a “a Neutral”.
Analyzing CDTX Stock Performance
On Thursday, Cidara Therapeutics Inc. [NASDAQ: CDTX] plunged -7.65% to $1.81. The stock’s lowest price that day was $1.75, but it reached a high of $1.99 in the same session. During the last five days, there has been a surge of approximately 8.38%. Over the course of the year, Cidara Therapeutics Inc. shares have jumped approximately 139.32%. Shares of the company reached a 52-week high of $1.9900 on 03/02/23 and a 52-week low of $0.7310 on 01/04/23. A 50-day SMA is recorded $1.2089, while a 200-day SMA reached $0.7610. Nevertheless, trading volume fell to 3.0 million shares from 1.12 million shares the previous day.
Support And Resistance Levels for Cidara Therapeutics Inc. (CDTX)
According to the 24-hour chart, there is a support level at 1.7100, which, if violated, would cause prices to drop to 1.6100. In the upper region, resistance lies at 1.9500. The next price resistance is at 2.0900. RSI (Relative Strength Index) is 62.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.1286, which suggests the price will decrease in the coming days. Percent R is at 28.13%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Cidara Therapeutics Inc. subject to short interest?
Stocks of Cidara Therapeutics Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 1.18 million shares to 1.75 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 0.57 million shares. A jump of 67.6% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.65 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.65.
Which companies own the most shares of Cidara Therapeutics Inc. (CDTX)?
According to BVF Partners LP filings, the company currently owns 6,861,127 shares, which is about 9.58% of the total CDTX shares outstanding. With the completion of the sale transaction, Nantahala Capital Management LLC’s stake is now worth $5,371,981. A total of 0 shares of Cidara Therapeutics Inc. were bought by Alethea Capital Management LLC during the quarter, and 0 by Medical Strategy GmbH. In its current portfolio, Acadian Asset Management LLC holds 1,256,602 shares valued at $1.55 million.
In terms of Cidara Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $4.83 in the next 12 months, up nearly 155.1% from the previous closing price of $1.96. Analysts anticipate Cidara Therapeutics Inc. stock to reach $6.50 by 2023, with the lowest price target being $3.00. In spite of this, 3 analysts ranked Cidara Therapeutics Inc. stock as a Buy at the end of 2023. On July 26, 2018, Citigroup assigned a price target of “a Buy” to the stock and initiated coverage with a $8.