54,473 Shares in Cidara Therapeutics, Inc. (NASDAQ:CDTX) Bought by Acuta Capital Partners LLC

Acuta Capital Partners LLC purchased a new position in Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 54,473 shares of the biotechnology company's stock, valued at approximately $1,464,000. Cidara Therapeutics makes up approximately 1.5% of Acuta Capital Partners LLC's portfolio, making the stock its 24th biggest holding. Acuta Capital Partners LLC owned 0.77% of Cidara Therapeutics at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Cidara Therapeutics by 22.7% during the third 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 during the period. ADAR1 Capital Management LLC acquired a new position in shares of Cidara Therapeutics during the fourth quarter worth about $670,000. Vivo Capital LLC bought a new position in shares of Cidara Therapeutics during the fourth quarter worth about $18,026,000. Adage Capital Partners GP L.L.C. lifted its stake 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 valued at $9,944,000 after acquiring an additional 327,199 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in Cidara Therapeutics during the 4th quarter worth approximately $419,000. Institutional investors and hedge funds own 35.82% of the company's stock.

Cidara Therapeutics Price Performance

CDTX stock opened at $21.75 on Friday. Cidara Therapeutics, Inc. has a one year low of $10.14 and a one year high of $28.42. The stock has a market cap of $238.23 million, a price-to-earnings ratio of -0.85 and a beta of 0.89. The company has a fifty day moving average price of $20.94 and a two-hundred day moving average price of $19.93.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced its quarterly earnings results 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%. Research analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on CDTX. Needham & Company LLC restated a "buy" rating and set a $35.00 target price on shares of Cidara Therapeutics in a report on Thursday, April 10th. Citigroup started coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating for the company. Citizens Jmp initiated coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating and a $46.00 target price on the stock. StockNews.com raised Cidara Therapeutics to a "sell" rating in a research report on Wednesday, April 16th. Finally, Cantor Fitzgerald raised Cidara Therapeutics to a "strong-buy" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $39.14.

Insider Transactions at Cidara Therapeutics

In related news, COO Shane Ward sold 1,664 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 $36,541.44. Following the transaction, the chief operating officer now directly owns 14,674 shares of the company's stock, valued at approximately $322,241.04. This trade 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 business'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 completion of the sale, the insider now directly owns 16,215 shares of the company's stock, valued at $356,081.40. This represents a 9.86 % decrease in their position. The disclosure for this sale can be found here. 7.64% of the stock is owned by corporate insiders.

About Cidara Therapeutics

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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