Boothbay Fund Management LLC Buys Shares of 15,601 Cidara Therapeutics, Inc. (NASDAQ:CDTX)

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

Other large investors also recently modified their holdings of the company. Vivo Capital LLC acquired a new stake in shares of Cidara Therapeutics during the fourth quarter worth approximately $18,026,000. Adage Capital Partners GP L.L.C. boosted its stake in Cidara Therapeutics by 765.3% in the fourth 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. Geode Capital Management LLC boosted its position in Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company's stock valued at $569,000 after purchasing an additional 9,771 shares during the period. Finally, ADAR1 Capital Management LLC bought a new position in shares of Cidara Therapeutics during the fourth quarter worth about $670,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CDTX. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 price target on shares of Cidara Therapeutics in a report on Tuesday, April 29th. HC Wainwright lifted 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. Cantor Fitzgerald raised Cidara Therapeutics to a "strong-buy" rating in a report on Wednesday, February 5th. Citizens Jmp began coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price objective for the company. Finally, Citigroup initiated coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating for the company. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $39.14.

Insider Buying and Selling

In other 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 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. The trade was a 9.86 % decrease in their position. 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 the business'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 completion of the transaction, the chief operating officer now directly owns 14,674 shares of the company's stock, 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 company insiders.

Cidara Therapeutics Trading Down 2.5 %

Cidara Therapeutics stock traded down $0.50 during mid-day trading on Wednesday, hitting $19.20. 4,410 shares of the company's stock were exchanged, compared to its average volume of 71,292. Cidara Therapeutics, Inc. has a 1-year low of $10.14 and a 1-year high of $28.42. The stock has a 50 day moving average of $20.85 and a two-hundred day moving average of $20.20. The stock has a market cap of $240.90 million, a P/E ratio of -0.75 and a beta of 0.86.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its quarterly earnings data 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%. As a group, research analysts predict that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.

Cidara Therapeutics Company 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.