Cidara Therapeutics Inc. [CDTX] Revenue clocked in at $26.80 million, down -48.18% YTD: What’s Next?

Cidara Therapeutics Inc. [NASDAQ: CDTX] plunged by -$0.33 during the normal trading session on Monday and reaching a high of $2.4788 during the day while it closed the day at $1.99. The company report on November 6, 2020 that Cidara Provides Corporate Update and Reports Third Quarter 2020 Financial Results.

Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company developing long-acting therapeutics designed to transform the standard of care for patients facing serious fungal or viral infections, today reported financial results for the three months ended September 30, 2020, and provided an update on its corporate activities.

“We continue to make important progress advancing rezafungin through Phase 3 clinical development. Based on current enrollment trends, we now anticipate top-line data from the ReSTORE trial by the end of 2021, although we continue to monitor the impact of the COVID-19 pandemic on enrollment in our clinical trials,” said Jeffrey Stein, Ph.D., President and Chief Executive Officer of Cidara. “This quarter, we were also pleased to announce the formation of a scientific advisory board as well as the presentation of new clinical data on rezafungin and preclinical data on our Cloudbreak influenza program.”.

Cidara Therapeutics Inc. stock has also loss -19.76% of its value over the past 7 days. However, CDTX stock has declined by -50.62% in the 3 months of the year. Over the past six months meanwhile, it has lost -38.77% and lost -48.18% year-on date.

The market cap for CDTX stock reached $93.59 million, with 47.03 million shares outstanding and 34.41 million shares in the current float. Compared to the average trading volume of 178.51K shares, CDTX reached a trading volume of 1276726 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Cidara Therapeutics Inc. [CDTX]:

Wedbush have made an estimate for Cidara Therapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 04, 2019. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on July 26, 2018, representing the official price target for Cidara Therapeutics Inc. stock. On April 17, 2017, analysts decreased their price target for CDTX shares from 18 to 14.

The Average True Range (ATR) for Cidara Therapeutics Inc. is set at 0.22, with the Price to Sales ratio for CDTX stock in the period of the last 12 months amounting to 3.49. The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 0.97.

CDTX stock trade performance evaluation

Cidara Therapeutics Inc. [CDTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.76. With this latest performance, CDTX shares dropped by -38.77% in over the last four-week period, additionally sinking by -38.77% over the last 6 months – not to mention a drop of -16.39% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDTX stock in for the last two-week period is set at 22.89, with the RSI for the last a single of trading hit 17.39, and the three-weeks RSI is set at 27.89 for Cidara Therapeutics Inc. [CDTX]. The present Moving Average for the last 50 days of trading for this stock 2.9356, while it was recorded at 2.3540 for the last single week of trading, and 3.1697 for the last 200 days.

Cidara Therapeutics Inc. [CDTX]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Cidara Therapeutics Inc. [CDTX] shares currently have an operating margin of -199.49. Cidara Therapeutics Inc.’s Net Margin is presently recorded at -196.47.

Return on Total Capital for CDTX is now -70.34, given the latest momentum, and Return on Invested Capital for the company is -83.93. Return on Equity for this stock declined to -84.75, with Return on Assets sitting at -55.50. When it comes to the capital structure of this company, Cidara Therapeutics Inc. [CDTX] has a Total Debt to Total Equity ratio set at 30.99. Additionally, CDTX Total Debt to Total Capital is recorded at 23.66, with Total Debt to Total Assets ending up at 17.00. Long-Term Debt to Equity for the company is recorded at 2.49, with the Long-Term Debt to Total Capital now at 1.90.

Reflecting on the efficiency of the workforce at the company, Cidara Therapeutics Inc. [CDTX] managed to generate an average of -$604,294 per employee. Receivables Turnover for the company is 7.54 with a Total Asset Turnover recorded at a value of 0.28.Cidara Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.80.

Earnings per share (EPS) analysis for Cidara Therapeutics Inc. [CDTX] stock

With the latest financial reports released by the company, Cidara Therapeutics Inc. posted -0.42/share EPS, while the average EPS was predicted by analysts to be reported at -0.43/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CDTX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cidara Therapeutics Inc. go to 61.20%.

Cidara Therapeutics Inc. [CDTX]: Insider Ownership positions

There are presently around $51 million, or 63.10% of CDTX stock, in the hands of institutional investors. The top three institutional holders of CDTX stocks are: BVF INC/IL with ownership of 3,689,203, which is approximately -3.558% of the company’s market cap and around 17.83% of the total institutional ownership; BELLEVUE GROUP AG, holding 2,822,495 shares of the stock with an approximate value of $5.62 million in CDTX stocks shares; and 5AM VENTURE MANAGEMENT, LLC, currently with $3.99 million in CDTX stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Cidara Therapeutics Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 44 institutional holders increased their position in Cidara Therapeutics Inc. [NASDAQ:CDTX] by around 3,200,200 shares. Additionally, 22 investors decreased positions by around 1,870,791 shares, while 11 investors held positions by with 20,418,291 shares. The mentioned changes placed institutional holdings at 25,489,282 shares, according to the latest SEC report filing. CDTX stock had 20 new institutional investments in for a total of 1,410,229 shares, while 12 institutional investors sold positions of 1,597,134 shares during the same period.

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