VR Adviser LLC Takes Position in Cidara Therapeutics, Inc. (NASDAQ:CDTX)

VR Adviser LLC purchased a new stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 765,723 shares of the biotechnology company’s stock, valued at approximately $20,583,000. Cidara Therapeutics comprises 1.4% of VR Adviser LLC’s portfolio, making the stock its 19th biggest position. VR Adviser LLC owned 0.11% of Cidara Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CDTX. TCG Crossover Management LLC bought a new stake in shares of Cidara Therapeutics in the 4th quarter valued at about $26,092,000. Vivo Capital LLC bought a new stake in shares of Cidara Therapeutics in the 4th quarter valued at about $18,026,000. BVF Inc. IL increased its stake in shares of Cidara Therapeutics by 55.4% in the 4th quarter. BVF Inc. IL now owns 1,092,796 shares of the biotechnology company’s stock valued at $29,374,000 after acquiring an additional 389,731 shares during the last quarter. RA Capital Management L.P. increased its stake in Cidara Therapeutics by 55.4% during the 4th quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company’s stock worth $29,374,000 after purchasing an additional 389,716 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Cidara Therapeutics by 765.3% during 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 purchasing an additional 327,199 shares in the last quarter. 35.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CDTX has been the subject of a number of research reports. JMP Securities increased their target price on Cidara Therapeutics from $46.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Friday, May 9th. Citigroup initiated coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating for the company. Guggenheim increased their target price on Cidara Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald raised Cidara Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $35.00 target price on shares of Cidara Therapeutics in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $41.71.

Cidara Therapeutics Stock Up 3.9%

NASDAQ:CDTX opened at $26.49 on Tuesday. Cidara Therapeutics, Inc. has a twelve month low of $10.14 and a twelve month high of $28.42. The business has a 50 day moving average price of $20.44 and a two-hundred day moving average price of $20.80. The company has a market cap of $332.37 million, a P/E ratio of -1.04 and a beta of 0.86.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($5.45) by $3.79. Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. As a group, analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Shane Ward sold 1,664 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 owns 14,674 shares of the company’s stock, valued at approximately $322,241.04. This represents a 10.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Leslie Tari sold 1,773 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $38,935.08. Following the completion of the sale, the insider now directly owns 16,215 shares of the company’s stock, valued at approximately $356,081.40. The trade was a 9.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.89% of the company’s stock.

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.