Cidara Therapeutics, Inc. (NASDAQ:CDTX) Shares Purchased by BVF Inc. IL

BVF Inc. IL raised its position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 55.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,092,796 shares of the biotechnology company’s stock after buying an additional 389,731 shares during the quarter. Cidara Therapeutics comprises approximately 1.0% of BVF Inc. IL’s holdings, making the stock its 23rd largest position. BVF Inc. IL owned approximately 0.16% of Cidara Therapeutics worth $29,374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CDTX. Geode Capital Management LLC increased 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 worth $569,000 after purchasing an additional 9,771 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in Cidara Therapeutics during the fourth quarter worth approximately $670,000. Vivo Capital LLC purchased a new stake in Cidara Therapeutics during the fourth quarter worth approximately $18,026,000. Adage Capital Partners GP L.L.C. raised its stake in shares of 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 valued at $9,944,000 after acquiring an additional 327,199 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in shares of Cidara Therapeutics during the 4th quarter valued at $419,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CDTX has been the subject of several recent research reports. HC Wainwright increased their price target on Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a report on Monday, March 10th. JMP Securities reiterated a “market outperform” rating and set a $46.00 target price on shares of Cidara Therapeutics in a report on Tuesday, April 29th. Citigroup started coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating for the company. Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded shares of Cidara Therapeutics to a “sell” rating in a research note on Wednesday, April 16th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $39.14.

Insider Buying and Selling

In other Cidara Therapeutics news, insider Leslie Tari sold 1,773 shares of Cidara Therapeutics stock in a transaction 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 transaction, the insider now owns 16,215 shares of the company’s stock, valued at $356,081.40. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Shane Ward sold 1,664 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $36,541.44. Following the sale, the chief operating officer now directly owns 14,674 shares in the company, 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. Insiders own 7.64% of the company’s stock.

Cidara Therapeutics Trading Down 0.3 %

Cidara Therapeutics stock opened at $21.69 on Friday. Cidara Therapeutics, Inc. has a 52 week low of $10.14 and a 52 week high of $28.42. The stock has a market cap of $272.14 million, a P/E ratio of -0.85 and a beta of 0.86. The stock has a 50 day moving average of $20.95 and a 200-day moving average of $20.07.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($5.38) 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%. As a group, equities analysts predict 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.