Cidara Therapeutics (CDTX) Getting Somewhat Favorable Press Coverage, Study Shows
News stories about Cidara Therapeutics (NASDAQ:CDTX) have been trending somewhat positive recently, according to Accern. The research group ranks the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Cidara Therapeutics earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned news headlines about the biotechnology company an impact score of 45.750475191388 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Cidara Therapeutics (NASDAQ:CDTX) traded up 8.66% during trading on Thursday, reaching $6.90. 118,544 shares of the company traded hands. The firm’s 50 day moving average price is $7.24 and its 200 day moving average price is $7.05. Cidara Therapeutics has a 12-month low of $5.60 and a 12-month high of $11.85. The firm’s market capitalization is $116.35 million.
Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.08). Equities research analysts expect that Cidara Therapeutics will post ($3.62) earnings per share for the current year.
A number of research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Cidara Therapeutics in a research note on Friday, August 11th. WBB Securities raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. ValuEngine raised shares of Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, July 14th. Finally, Zacks Investment Research cut shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.14.
In other news, CEO Jeffrey Stein purchased 7,350 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was acquired at an average price of $6.79 per share, with a total value of $49,906.50. Following the transaction, the chief executive officer now directly owns 51,851 shares of the company’s stock, valued at approximately $352,068.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 18.90% of the company’s stock.
About Cidara Therapeutics
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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