Jane Street Group LLC Invests $342,000 in Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Jane Street Group LLC acquired a new stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 12,714 shares of the biotechnology company's stock, valued at approximately $342,000. Jane Street Group LLC owned approximately 0.18% of Cidara Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in CDTX. ADAR1 Capital Management LLC purchased a new stake in shares of Cidara Therapeutics in the 4th quarter valued at $670,000. Vivo Capital LLC purchased a new stake in shares of Cidara Therapeutics in the 4th quarter valued at $18,026,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Cidara Therapeutics by 765.3% in the 4th 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 purchasing an additional 327,199 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Cidara Therapeutics in the 4th quarter valued at $419,000. Finally, Northern Trust Corp boosted its stake in shares of Cidara Therapeutics by 6.8% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 35.82% of the company's stock.

Cidara Therapeutics Price Performance

Shares of Cidara Therapeutics stock remained flat at $24.05 during trading on Thursday. 225,731 shares of the company traded hands, compared to its average volume of 83,048. The business's 50 day moving average price is $20.89 and its two-hundred day moving average price is $21.63. The firm has a market capitalization of $301.76 million, a P/E ratio of -0.94 and a beta of 0.86. Cidara Therapeutics, Inc. has a 52 week low of $10.14 and a 52 week high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, equities research analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.

Insider Activity

In related news, COO Shane Ward sold 1,664 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $36,541.44. Following the completion of the sale, the chief operating officer now directly owns 14,674 shares in the company, valued at approximately $322,241.04. The trade was a 10.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Leslie Tari sold 1,773 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were 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. This trade represents a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.89% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CDTX shares. Citizens Jmp assumed coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 price objective for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $35.00 price target (up from $31.00) on shares of Cidara Therapeutics in a report on Friday, May 23rd. JMP Securities reiterated a "market outperform" rating and set a $47.00 price target on shares of Cidara Therapeutics in a report on Monday. Wall Street Zen upgraded shares of Cidara Therapeutics to a "sell" rating in a report on Saturday, May 10th. Finally, Guggenheim upped their price target on shares of Cidara Therapeutics from $35.00 to $50.00 and gave the company a "buy" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $42.00.

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.