Are Value Hunters Buying Cidara Therapeutics Inc (NASDAQ: CDTX) Stock?

The trading price of Cidara Therapeutics Inc (NASDAQ:CDTX) floating higher at last check on Tuesday, April 02, closing at $1.01, 4.37% higher than its previous close.

In examining the 52-week price action we see that the stock hit a 52-week high of $1.48 and a 52-week low of $0.59. Over the past month, the stock has gained 41.83% in value.

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Cidara Therapeutics Inc, whose market valuation is $91.54 million at the time of this writing, is expected to release its quarterly earnings report Apr 02, 2024 – Apr 03, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.1 per share this quarter, however they have predicted annual earnings per share of -$0.31 for 2023 and -$0.58 for 2024. It means analysts are expecting annual earnings per share growth of 27.90% this year and -87.10% next year.

Analysts have forecast the company to bring in revenue of $11.54 million for the current quarter, with the likely lows of $6.7 million and highs of $14 million. The average estimate suggests sales will likely up by 12.90% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $57.85 million. The company’s revenue is forecast to drop by -10.00% over what it did in 2023.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Cidara Therapeutics Inc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CDTX has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.

A quick review shows that CDTX’s price is currently 36.65% off the SMA20 and 42.24% off the SMA50. The RSI metric on the 14-day chart is currently showing 78.23, and weekly volatility stands at 14.03%. When measured over the past 30 days, the indicator reaches 8.22%. Cidara Therapeutics Inc (NASDAQ:CDTX)’s beta value is currently sitting at 1.01, while the Average True Range indicator is currently displaying 0.07.

To see how Cidara Therapeutics Inc stock has been performing today in comparison to its peers in the industry, here are the numbers: CDTX stock’s performance was 4.37% at last check in today’s session, and -21.09% in the past year.

An evaluation of the daily trading volume of Cidara Therapeutics Inc (NASDAQ:CDTX) indicates that the 3-month average is 560.11K. However, this figure has increased over the past 10 days to an average of 0.96 million.

Currently, records show that 90.62 million of the company’s shares remain outstanding. The insiders hold 10.23% of outstanding shares, whereas institutions hold 29.88%. The stats also highlight that short interest as of Mar 15, 2024, stood at 0.18 million shares, resulting in a short ratio of 0.41 at that time. From this, we can conclude that short interest is 0.20% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 0.46 million. However, since the stock’s price has seen 27.22% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.