Boothbay Fund Management LLC Invests $419,000 in Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Boothbay Fund Management LLC acquired a new position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,601 shares of the biotechnology company's stock, valued at approximately $419,000. Boothbay Fund Management LLC owned approximately 0.22% of Cidara Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vivo Capital LLC bought a new position in Cidara Therapeutics during the 4th quarter worth about $18,026,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of 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 in the last quarter. Geode Capital Management LLC grew 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 buying an additional 9,771 shares in the last quarter. Finally, ADAR1 Capital Management LLC bought a new stake in Cidara Therapeutics in the 4th quarter valued at approximately $670,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cidara Therapeutics

In other news, insider Leslie Tari sold 1,773 shares of the 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Shane Ward sold 1,664 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 $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. This represents a 10.18 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.64% of the company's stock.

Cidara Therapeutics Stock Performance

NASDAQ:CDTX traded down $0.19 during mid-day trading on Monday, hitting $21.50. The stock had a trading volume of 27,284 shares, compared to its average volume of 71,727. Cidara Therapeutics, Inc. has a twelve month low of $10.14 and a twelve month high of $28.42. The stock has a market cap of $269.76 million, a price-to-earnings ratio of -0.84 and a beta of 0.86. The company's 50 day simple moving average is $20.95 and its 200 day simple moving average is $20.13.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (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 forecast that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current year.

Analysts Set New Price Targets

CDTX has been the subject of several research reports. StockNews.com raised shares of Cidara Therapeutics to a "sell" rating in a research note on Wednesday, April 16th. Citizens Jmp started coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 target price for the company. Citigroup started coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating on the stock. JMP Securities restated a "market outperform" rating and issued a $46.00 price objective on shares of Cidara Therapeutics in a report on Tuesday, April 29th. Finally, HC Wainwright upped 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. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average 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.