Schonfeld Strategic Advisors LLC Purchases 30,057 Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Schonfeld Strategic Advisors LLC boosted its position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 154.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 49,557 shares of the biotechnology company’s stock after acquiring an additional 30,057 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Cidara Therapeutics were worth $1,332,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CDTX. Boothbay Fund Management LLC purchased a new position in shares of Cidara Therapeutics in the fourth quarter valued at about $419,000. ADAR1 Capital Management LLC purchased a new position in Cidara Therapeutics during the 4th quarter valued at about $670,000. Northern Trust Corp increased its holdings in Cidara Therapeutics by 6.8% during the 4th quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company’s stock valued at $913,000 after purchasing an additional 2,170 shares during the period. Geode Capital Management LLC raised its position in Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock valued at $569,000 after purchasing an additional 9,771 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Cidara Therapeutics by 765.3% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 369,954 shares of the biotechnology company’s stock worth $9,944,000 after buying an additional 327,199 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Insider Buying and Selling at Cidara Therapeutics

In related news, insider Leslie Tari sold 1,773 shares of the 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 sale, the insider now directly owns 16,215 shares of the company’s stock, valued at approximately $356,081.40. This represents a 9.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Shane Ward sold 1,664 shares of Cidara Therapeutics stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $36,541.44. Following the completion of the transaction, the chief operating officer now directly owns 14,674 shares of the company’s stock, valued at $322,241.04. This trade represents a 10.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on CDTX. HC Wainwright boosted their target price on Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Citigroup began coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating on the stock. StockNews.com raised shares of Cidara Therapeutics to a “sell” rating in a research report on Wednesday, April 16th. Needham & Company LLC reiterated a “buy” rating and set a $35.00 price target on shares of Cidara Therapeutics in a research report on Thursday, April 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of Cidara Therapeutics in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $39.14.

Cidara Therapeutics Price Performance

Shares of NASDAQ CDTX opened at $19.69 on Wednesday. Cidara Therapeutics, Inc. has a 1 year low of $10.14 and a 1 year high of $28.42. The firm has a 50-day moving average of $20.85 and a 200 day moving average of $20.20. The stock has a market cap of $247.05 million, a P/E ratio of -0.77 and a beta of 0.86.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts expect that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current fiscal year.

Cidara Therapeutics 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.