Cidara Therapeutics Inc. (CDTX) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on April 21. At the lunch break, shares of CDTX have clocked gains of 7.8% to $6.79 after closing the day prior at $6.3. In the first two and a half hours of trading, the stock has gone as high as $7.0 and as low as $6.6. Today’s rise has come with about 129,602 shares changing hands, compared to an average 30-day volume of 78,073 for Cidara Therapeutics Inc.. The price is currently below the 30-day volume weighted average price of $6.78 for CDTX.
The share appreciation gives the company a market capitalization of $105.85 million based upon 16.8 million shares outstanding. It also means that CDTX has a price-to-book ratio of 1.2:1.
In the past 52 weeks, shares of CDTX have traded as low as $6.1 and as high as $14.62. Technical traders will take note that at $6.79, shares of CDTX are trading below their 200-day MA at $10.03 and below their 50-day MA at $7.78. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is CDTX?
Cidara Therapeutics Inc is a biotechnology company engaged in the discovery, development and commercialization of novel anti-infectives for the treatment of diseases that are inadequately addressed by current standard of care therapies. The company’s 60 employees are led by CEO Jeffrey Stein from the corporate headquarters at 6310 Nancy Ridge Drive in San Diego, CA.
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