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Here Is How Powerful Cidara Therapeutics Inc. (NASDAQ: CDTX) Stock Is

The trading price of Cidara Therapeutics Inc. (NASDAQ:CDTX) closed lower on Tuesday, May 23, closing at $1.37, -3.52% lower than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $1.31 and $1.48. In examining the 52-week price action we see that the stock hit a 52-week high of $2.10 and a 52-week low of $0.40. Over the past month, the stock has gained 28.04% in value.

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Cidara Therapeutics Inc., whose market valuation is $120.45 million at the time of this writing, is expected to release its quarterly earnings report Aug 07, 2023 – Aug 11, 2023. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.13 per share this quarter, however they have predicted annual earnings per share of -$0.23 for 2023 and -$0.61 for 2024. It means analysts are expecting annual earnings per share growth of 46.50% this year and -165.20% next year.

Analysts have forecast the company to bring in revenue of $11.55 million for the current quarter, with the likely lows of $5 million and highs of $15.3 million. The average estimate suggests sales will likely up by 85.80% 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 $76.76 million. The company’s revenue is forecast to grow by 19.40% 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. 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CDTX has a Hold 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% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

A quick review shows that CDTX’s price is currently 19.60% off the SMA20 and 9.23% off the SMA50. The RSI metric on the 14-day chart is currently showing 60.53, and weekly volatility stands at 9.78%. When measured over the past 30 days, the indicator reaches 8.83%. Cidara Therapeutics Inc. (NASDAQ:CDTX)’s beta value is currently sitting at 1.27, while the Average True Range indicator is currently displaying 0.12.

To see how Cidara Therapeutics Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: CDTX stock’s performance was -3.52% in the latest trading, and 188.48% in the past year, while Spectrum Pharmaceuticals Inc. (SPPI) has traded -5.44% on the day and positioned 52.56% higher than it was a year ago. Also in last trading session, the S&P 500 Index has plunged -1.12%, while the Dow Jones Industrial also saw a negative session, down -0.69% on the day.

An evaluation of the daily trading volume of Cidara Therapeutics Inc. (NASDAQ:CDTX) indicates that the 3-month average is 3.17 million. However, this figure has increased over the past 10 days to an average of 1.97 million.

Currently, records show that 78.64 million of the company’s shares remain outstanding. The insiders hold 1.20% of outstanding shares, whereas institutions hold 40.00%. The stats also highlight that short interest as of Apr 27, 2023, stood at 2.41 million shares, resulting in a short ratio of 1.13 at that time. From this, we can conclude that short interest is 2.67% of the company’s total outstanding shares. It is noteworthy that short shares in April were down slightly from the previous month’s figure, which was 3.55 million. However, since the stock’s price has seen 81.15% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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