RA Capital Management L.P. Takes $7.56 Million Position in Cidara Therapeutics, Inc. (NASDAQ:CDTX)

RA Capital Management L.P. bought a new stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 703,080 shares of the biotechnology company's stock, valued at approximately $7,558,000. RA Capital Management L.P. owned approximately 9.97% of Cidara Therapeutics at the end of the most recent quarter.

Separately, Checkpoint Capital L.P. raised its stake in shares of Cidara Therapeutics by 25.5% during the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company's stock worth $1,961,000 after purchasing an additional 37,009 shares in the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CDTX shares. HC Wainwright restated a "buy" rating and set a $24.00 target price on shares of Cidara Therapeutics in a report on Monday, November 11th. StockNews.com cut shares of Cidara Therapeutics from a "hold" rating to a "sell" rating in a report on Monday, November 11th. Guggenheim began coverage on Cidara Therapeutics in a report on Friday, November 8th. They set a "buy" rating and a $33.00 price target for the company. Needham & Company LLC restated a "buy" rating and issued a $25.00 price objective on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Finally, WBB Securities lifted their target price on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a "strong-buy" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.75.

Cidara Therapeutics Stock Performance

NASDAQ:CDTX traded up $0.62 during mid-day trading on Thursday, reaching $20.57. 23,013 shares of the company's stock were exchanged, compared to its average volume of 41,518. Cidara Therapeutics, Inc. has a one year low of $10.00 and a one year high of $24.40. The business's fifty day simple moving average is $13.60 and its two-hundred day simple moving average is $12.64. The firm has a market capitalization of $145.02 million, a PE ratio of -0.73 and a beta of 1.13.

Cidara Therapeutics Company Profile

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.