BVF Inc. IL Has $29.37 Million Stock Position in Cidara Therapeutics, Inc. (NASDAQ:CDTX)

BVF Inc. IL boosted its position in Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 55.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,092,796 shares of the biotechnology company's stock after purchasing an additional 389,731 shares during the period. Cidara Therapeutics makes up about 1.0% of BVF Inc. IL's portfolio, making the stock its 23rd largest holding. BVF Inc. IL owned 15.50% of Cidara Therapeutics worth $29,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in Cidara Therapeutics during the fourth quarter worth approximately $342,000. Boothbay Fund Management LLC acquired a new position in shares of Cidara Therapeutics in the 4th quarter worth $419,000. ADAR1 Capital Management LLC acquired a new stake in shares of Cidara Therapeutics during the fourth quarter worth $670,000. Northern Trust Corp lifted its holdings in shares of Cidara Therapeutics by 6.8% during the fourth quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock valued at $913,000 after purchasing an additional 2,170 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its position in shares of Cidara Therapeutics by 154.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 49,557 shares of the biotechnology company's stock valued at $1,332,000 after purchasing an additional 30,057 shares during the period. 35.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CDTX. JMP Securities upped their price objective on shares of Cidara Therapeutics from $46.00 to $47.00 and gave the company a "market outperform" rating in a research note on Friday. Citigroup began 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 company a "buy" rating in a report on Monday, March 10th. Citizens Jmp assumed coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 target price for the company. Finally, 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. One 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 company presently has an average rating of "Buy" and an average target price of $39.57.

Cidara Therapeutics Trading Down 0.3 %

NASDAQ CDTX traded down $0.05 on Friday, reaching $19.10. The stock had a trading volume of 42,116 shares, compared to its average volume of 71,641. Cidara Therapeutics, Inc. has a 1 year low of $10.14 and a 1 year high of $28.42. The business has a 50 day moving average price of $20.66 and a 200 day moving average price of $20.25. The company has a market capitalization of $239.65 million, a price-to-earnings ratio of -0.75 and a beta of 0.86.

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 the consensus estimate of ($5.45) by $3.79. Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. On average, analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current fiscal year.

Insider Transactions at Cidara Therapeutics

In other news, COO Shane Ward sold 1,664 shares of Cidara Therapeutics stock in a transaction that occurred 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 owns 14,674 shares of the company's stock, valued at $322,241.04. This trade represents a 10.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Leslie Tari sold 1,773 shares of Cidara Therapeutics stock in a transaction 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 completion of the transaction, the insider now owns 16,215 shares in the company, valued at $356,081.40. This trade represents a 9.86 % decrease in their position. The disclosure for this sale can be found here. 3.89% of the stock is currently owned by company insiders.

About Cidara Therapeutics

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.