Cidara Therapeutics, Inc. (NASDAQ:CDTX) Stock Traded Higher Than Its 50 Day Average


The stock last traded at $7.70 a bit higher than the 50 day moving average of $7.27 and which is just over the 200 day moving average of $7.05. The 50 day moving average was up $0.43 and the 200 day average moved up $0.65. Trading was light with 4,260 shares changing hands in the last trading session. Overall, volume was down 95.77% under the stocks normal daily volume.

Investors are a little more bullish on the company lately if you pay attention to the change in short interest. The stock realized a fall in short interest between September 15, 2017 and September 29, 2017 of -5.27%. Short interest fell from 464,676 to 440,192 over that timeframe. Days to cover decreased from 7.0 to 4.0 and the short interest percentage is 0.03% as of September 29.

There has been some buying insider activity on Cidara Therapeutics, Inc. (NASDAQ:CDTX) recently. Jeffrey Stein, President & CEO disclosed the purchase of 7,350 shares of (CDTX). The shares were purchased at an average price of $6.79. The President & CEO now owns $352,068 of the stock according to the SEC filing.

A few notable investment firms have updated their holdings. Sabby Management, LLC downsized its position by shedding 52,600 shares a decrease of 29.6%. Sabby Management, LLC now holds 125,000 shares with a value of $938,000. The total value of its holdings decreased 32.3%. As of quarter end Ubs Group Ag had disposed of 1,176 shares trimming its holdings by 89.4%. The value of the company’s investment in Cidara Therapeutics, Inc. went from $10,000 to $1,000 a change of 90.0% for the reporting period.

As of the end of the quarter Meeder Asset Management Inc had bought a total of 657 shares growing its stake by 192.7%. The value in dollars increased from $3,000 to $8,000 a change of $5,000 quarter to quarter. As of the end of the quarter Trellus Management Company, LLC had sold 5,000 shares trimming its position 11.1%. The value of the investment in (CDTX) decreased from $338,000 to $324,000 decreasing 4.1% quarter over quarter.

On July 28, 2017 the stock rating was changed to “Sell” in a report from WBB Securities which was a cut from the previous “Sell” rating. On August 11 the company was upgraded from “Sell” to “Hold” by WBB Securities.

In the latest earnings report the EPS was $-3.55 and is projected to be $-3.62 for the current year with 16,863,000 shares outstanding. Next quarter’s EPS is forecasted at $-0.89 with next year’s EPS projected to be $-3.34.

Cidara Therapeutics, Inc., formerly K2 Therapeutics, Inc., launched on December 06, 2012, is a clinical-stage biotechnology company. The Company is involved in the discovery, development and commercialization of anti-infectives. The Company is developing a pipeline of product and development candidates, with a focus on serious fungal infections. The Business’s lead clinical candidates are echinocandins, a class of antifungals. The Business’s product portfolio consists of over two formulations of its echinocandin, CD101. CD101 IV is a long-acting therapy for the treatment and prevention of serious, invasive fungal infections. CD101 topical, its second product candidate, is being developed for the treatment of vulvovaginal candidiasis (VVC) and recurrent VVC (RVVC), a prevalent mucosal infection. In addition, it has developed an immunotherapy technology platform, Cloudbreak, which is used to create compounds designed to direct a patient’s immune cells to attack and eliminate pathogens that cause infectious disease. It is evaluating Cloudbreak candidates for the treatment of invasive fungal infections, including aspergillosis, an infection caused by the fungal pathogen, Aspergillus. The Company is also developing CD201, its bispecific antimicrobial immunotherapy, for the treatment of multi-drug resistant Gram-negative bacterial infections..