ADAR1 Capital Management LLC acquired a new stake in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 24,938 shares of the biotechnology company's stock, valued at approximately $670,000. ADAR1 Capital Management LLC owned about 0.35% of Cidara Therapeutics at the end of the most recent reporting period.
Separately, Geode Capital Management LLC raised its holdings in shares of Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company's stock worth $569,000 after acquiring an additional 9,771 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company's stock.
Cidara Therapeutics Stock Up 6.5 %
CDTX traded up $1.11 during trading hours on Friday, reaching $18.20. 213,074 shares of the company's stock traded hands, compared to its average volume of 74,205. The firm has a 50-day moving average price of $21.43 and a 200 day moving average price of $19.02. The firm has a market capitalization of $199.34 million, a PE ratio of -0.71 and a beta of 0.89. Cidara Therapeutics, Inc. has a 52-week low of $10.00 and a 52-week high of $28.42.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. Equities analysts predict that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on CDTX shares. Citizens Jmp began coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 price target on the stock. HC Wainwright lifted their price target on Cidara Therapeutics from $24.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. StockNews.com raised Cidara Therapeutics to a "sell" rating in a research note on Friday, April 4th. Cantor Fitzgerald raised Cidara Therapeutics to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Citigroup initiated coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating on the stock. One analyst has rated the stock with a sell rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $39.14.
Check Out Our Latest Analysis on Cidara Therapeutics
Insiders Place Their Bets
In related news, COO Shane Ward sold 1,664 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $36,541.44. Following the completion of the sale, the chief operating officer now directly owns 14,674 shares of the company's stock, valued at $322,241.04. This represents a 10.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leslie Tari sold 1,773 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $38,935.08. Following the transaction, the insider now directly owns 16,215 shares in the company, valued at $356,081.40. This trade represents a 9.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.64% of the company's stock.
About Cidara Therapeutics
(
Free Report)
Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.
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