Cidara Therapeutics Inc. [NASDAQ: CDTX] stock went on a downward path that fall over -14.09% on Friday, amounting to a one-week price decrease of less than -3.42%. The company report on March 3, 2023 that Cidara Therapeutics Announces Pricing of Public Offerings of Common Stock and Preferred Stock.
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In addition, with respect to the common stock offering, Cidara has granted the underwriter a 30-day option to purchase up to an additional 1,446,000 shares of its common stock.
Over the last 12 months, CDTX stock rose by 128.21%. The one-year Cidara Therapeutics Inc. stock forecast points to a potential upside of 73.73. The average equity rating for CDTX stock is currently 1.60, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $129.59 million, with 70.22 million shares outstanding and 63.36 million shares in the current float. Compared to the average trading volume of 1.71M shares, CDTX stock reached a trading volume of 8845888 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Cidara Therapeutics Inc. [CDTX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDTX shares is $5.90 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDTX stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Cidara Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 03, 2021. The new note on the price target was released on September 22, 2021, representing the official price target for Cidara Therapeutics Inc. stock. Previously, the target price had yet another raise to $9, while Aegis Capital analysts kept a Buy rating on CDTX stock. On September 04, 2019, analysts increased their price target for CDTX shares from 2 to 4.
The Average True Range (ATR) for Cidara Therapeutics Inc. is set at 0.19, with the Price to Sales ratio for CDTX stock in the period of the last 12 months amounting to 2.11. The Price to Book ratio for the last quarter was 11.96, with the Price to Cash per share for the same quarter was set at 0.64.
CDTX Stock Performance Analysis:
Cidara Therapeutics Inc. [CDTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.42. With this latest performance, CDTX shares gained by 20.54% in over the last four-week period, additionally plugging by 123.52% over the last 6 months – not to mention a rise of 128.21% 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 51.82, with the RSI for the last a single of trading hit 47.90, and the three-weeks RSI is set at 54.47 for Cidara Therapeutics Inc. [CDTX]. The present Moving Average for the last 50 days of trading for this stock 1.2302, while it was recorded at 1.6590 for the last single week of trading, and 0.7667 for the last 200 days.
Insight into Cidara Therapeutics Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Cidara Therapeutics Inc. [CDTX] shares currently have an operating margin of -85.24 and a Gross Margin at +99.62. Cidara Therapeutics Inc.’s Net Margin is presently recorded at -85.67.
Return on Equity for this stock declined to -263.05, with Return on Assets sitting at -62.31.
Cidara Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.
Cidara Therapeutics Inc. [CDTX] Insider Position Details
There are presently around $42 million, or 40.00% of CDTX stock, in the hands of institutional investors. The top three institutional holders of CDTX stocks are: BVF INC/IL with ownership of 6,861,127, which is approximately 0% of the company’s market cap and around 1.20% of the total institutional ownership; NANTAHALA CAPITAL MANAGEMENT, LLC, holding 4,367,464 shares of the stock with an approximate value of $6.79 million in CDTX stocks shares; and POINT72 ASSET MANAGEMENT, L.P., currently with $6.01 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 Monday and at the time of the Monday reporting period, where 16 institutional holders increased their position in Cidara Therapeutics Inc. [NASDAQ:CDTX] by around 1,440,672 shares. Additionally, 17 investors decreased positions by around 1,709,015 shares, while 17 investors held positions by with 23,655,219 shares. The mentioned changes placed institutional holdings at 26,804,906 shares, according to the latest SEC report filing. CDTX stock had 8 new institutional investments in for a total of 734,607 shares, while 9 institutional investors sold positions of 1,308,912 shares during the same period.