Alethea Capital Management LLC Has $385,000 Stock Holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Alethea Capital Management LLC reduced its position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 82.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,311 shares of the biotechnology company's stock after selling 65,597 shares during the period. Cidara Therapeutics comprises about 0.3% of Alethea Capital Management LLC's investment portfolio, making the stock its 17th biggest position. Alethea Capital Management LLC owned 0.20% of Cidara Therapeutics worth $385,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Cidara Therapeutics by 22.7% in the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company's stock valued at $569,000 after buying an additional 9,771 shares during the period. ADAR1 Capital Management LLC bought a new stake in Cidara Therapeutics in the fourth quarter valued at about $670,000. Vivo Capital LLC acquired a new position in Cidara Therapeutics in the fourth quarter valued at about $18,026,000. Adage Capital Partners GP L.L.C. boosted its holdings in Cidara Therapeutics by 765.3% during the fourth 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 last quarter. Finally, Boothbay Fund Management LLC bought a new stake in shares of Cidara Therapeutics in the 4th quarter valued at about $419,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cidara Therapeutics news, insider Leslie Tari sold 1,773 shares of Cidara Therapeutics stock in a transaction dated 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 owns 16,215 shares in the company, valued at $356,081.40. The trade was a 9.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Shane Ward sold 1,664 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $36,541.44. Following the sale, the chief operating officer now owns 14,674 shares of the company's stock, valued at approximately $322,241.04. The trade was a 10.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.89% of the company's stock.

Cidara Therapeutics Trading Down 2.1 %

Shares of Cidara Therapeutics stock traded down $0.40 on Friday, reaching $18.75. 39,106 shares of the company were exchanged, compared to its average volume of 71,614. The company has a market capitalization of $235.26 million, a price-to-earnings ratio of -0.73 and a beta of 0.86. Cidara Therapeutics, Inc. has a one year low of $10.14 and a one year high of $28.42. The company has a 50-day moving average of $20.66 and a 200 day moving average of $20.25.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) EPS for the quarter, beating analysts' consensus estimates of ($5.45) by $3.79. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. Analysts predict that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $35.00 price objective on shares of Cidara Therapeutics in a report on Thursday, April 10th. Citigroup began coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating on the stock. Citizens Jmp began coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 price objective for the company. StockNews.com upgraded shares of Cidara Therapeutics to a "sell" rating in a report on Wednesday, April 16th. Finally, JMP Securities upped their price objective on Cidara Therapeutics from $46.00 to $47.00 and gave the stock a "market outperform" rating in a research report on Friday. 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. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $39.57.

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.