Cidara Therapeutics Inc (NASDAQ:CDTX) shares, rose in value on Friday, April 05, with the stock price down by -1.85% to the previous day’s close as strong demand from buyers drove the stock to $1.06.
Actively observing the price movement in the recent trading, the stock is buoying the session at $1.08. The value of beta (5-year monthly) is 0.94. Referring to stock’s 52-week performance, its high was $1.48, and the low was $0.59. On the whole, CDTX has fluctuated by 51.58% over the past month.
With the market capitalization of Cidara Therapeutics Inc currently standing at about $96.06 million, investors are eagerly awaiting this quarter’s results, scheduled for Apr 05, 2024 – Apr 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.1, which is expected to increase to $0 for fiscal year -$0.31 and then to about -$0.58 by fiscal year 2024. Data indicates that the EPS growth is expected to be 27.90% in 2024, while the next year’s EPS growth is forecast to be -87.10%.
Analysts have estimated the company’s revenue for the quarter at $11.54 million, with a low estimate of $6.7 million and a high estimate of $14 million. According to the average forecast, sales growth in current quarter could jump up 12.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $57.85 million, representing a decrease of -10.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CDTX’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CDTX currently trading nearly 33.52% and 44.88% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 75.57, while the 7-day volatility ratio is showing 17.69% which for the 30-day chart, stands at 9.70%. Furthermore, Cidara Therapeutics Inc (CDTX)’s beta value is 0.97, and its average true range (ATR) is 0.09.
A comparison of Cidara Therapeutics Inc (CDTX) with its peers suggests the former has fared considerably weaker in the market. CDTX showed an intraday change of -1.85% in today’s session so far, and over the past year, it shrunk by -13.82%%.
Data on historical trading for Cidara Therapeutics Inc (NASDAQ:CDTX) indicates that the trading volumes over the past 10 days have averaged 1.2 million and over the past 3 months, they’ve averaged 617.95K. According to company’s latest data on outstanding shares, there are 90.62 million shares outstanding.
Nearly 10.23% of Cidara Therapeutics Inc’s shares belong to company insiders and institutional investors own 29.71% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.18 million shares as on Mar 15, 2024, resulting in a short ratio of 0.41. According to the data, the short interest in Cidara Therapeutics Inc (CDTX) stood at 0.20% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 0.46 million. The stock has risen by 33.50% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CDTX stock heading into the next quarter.
