Acuta Capital Partners LLC Buys New Shares in Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Acuta Capital Partners LLC bought a new stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 54,473 shares of the biotechnology company's stock, valued at approximately $1,464,000. Cidara Therapeutics accounts for 1.5% of Acuta Capital Partners LLC's portfolio, making the stock its 24th biggest position. Acuta Capital Partners LLC owned 0.77% of Cidara Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TCG Crossover Management LLC bought a new stake in Cidara Therapeutics in the 4th quarter valued at about $26,092,000. Vivo Capital LLC bought a new position in Cidara Therapeutics during the 4th quarter worth $18,026,000. RA Capital Management L.P. raised its holdings in Cidara Therapeutics by 55.4% in the 4th quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company's stock valued at $29,374,000 after acquiring an additional 389,716 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of 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 valued at $9,944,000 after acquiring an additional 327,199 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its holdings in shares of Cidara Therapeutics by 154.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 49,557 shares of the biotechnology company's stock worth $1,332,000 after purchasing an additional 30,057 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Leslie Tari sold 1,773 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $38,935.08. Following the completion of the transaction, the insider now directly owns 16,215 shares in the company, valued at $356,081.40. This trade represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Shane Ward sold 1,664 shares of Cidara Therapeutics 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 transaction, the chief operating officer now directly owns 14,674 shares in the company, valued at approximately $322,241.04. This 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 corporate insiders.

Cidara Therapeutics Stock Performance

Shares of NASDAQ:CDTX traded down $0.36 during midday trading on Wednesday, hitting $19.35. 11,387 shares of the stock were exchanged, compared to its average volume of 71,313. The business's 50-day moving average price is $20.85 and its 200 day moving average price is $20.20. The stock has a market capitalization of $242.72 million, a price-to-earnings ratio of -0.76 and a beta of 0.86. Cidara Therapeutics, Inc. has a 12 month low of $10.14 and a 12 month high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly 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%. As a group, sell-side analysts expect that Cidara Therapeutics, Inc. will post -8.74 EPS for the current year.

Wall Street Analyst Weigh In

CDTX has been the subject of a number of analyst reports. Citigroup began coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating for the company. 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. Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a "strong-buy" rating in a research report on Wednesday, February 5th. StockNews.com raised Cidara Therapeutics to a "sell" rating in a report on Wednesday, April 16th. Finally, Citizens Jmp assumed coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $39.14.

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.