Cidara Therapeutics, Inc. (NASDAQ:CDTX) Stock Position Decreased by Alethea Capital Management LLC

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

Several other large investors also recently modified their holdings of the business. Jane Street Group LLC purchased a new position in Cidara Therapeutics in the fourth quarter valued at about $342,000. Boothbay Fund Management LLC bought a new stake in shares of Cidara Therapeutics in the fourth quarter worth $419,000. ADAR1 Capital Management LLC acquired a new stake in Cidara Therapeutics in the fourth quarter valued at $670,000. Northern Trust Corp boosted its stake in Cidara Therapeutics by 6.8% during the 4th quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock valued at $913,000 after acquiring an additional 2,170 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its holdings in 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 acquiring an additional 30,057 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Cidara Therapeutics Price Performance

Shares of CDTX stock traded down $1.81 during trading hours on Tuesday, reaching $19.69. The stock had a trading volume of 56,779 shares, compared to its average volume of 71,546. The firm has a market capitalization of $247.05 million, a PE ratio of -0.77 and a beta of 0.86. The firm has a 50-day simple moving average of $20.85 and a 200-day simple moving average of $20.20. Cidara Therapeutics, Inc. has a twelve month low of $10.14 and a twelve 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 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%. On average, equities analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current year.

Insider Activity

In related news, insider Leslie Tari sold 1,773 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $38,935.08. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Shane Ward sold 1,664 shares of the 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 transaction, the chief operating officer now directly 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. Corporate insiders own 7.64% of the company's stock.

Analysts Set New Price Targets

CDTX has been the topic of several research analyst reports. Citigroup initiated coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating on the stock. HC Wainwright increased their target price on Cidara Therapeutics from $24.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, March 10th. StockNews.com upgraded Cidara Therapeutics to a "sell" rating in a report on Wednesday, April 16th. Needham & Company LLC reissued a "buy" rating and set a $35.00 price target on shares of Cidara Therapeutics in a research report on Thursday, April 10th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 price objective on shares of Cidara Therapeutics in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Cidara Therapeutics has an average rating of "Buy" and a consensus price target 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.