American Century Companies Inc. Purchases Shares of 10,409 Cidara Therapeutics, Inc. $CDTX

Key Points

• American Century Companies Inc. acquired a total of 10,409 shares of Cidara Therapeutics, Inc. worth approximately $224,000, constituting 0.08% of the company's stock as per their recent SEC filing.
• Significant insider activity included Director Ra Capital Management purchasing 2,272,727 shares for about $100 million, increasing their ownership in the company to over 3.3 million shares.
• Research firms have a favorable outlook on Cidara Therapeutics, with multiple upgrades and a consensus price target of $64.14, reflecting strong confidence in the stock's future performance.

American Century Companies Inc. purchased a new stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,409 shares of the biotechnology company's stock, valued at approximately $224,000. American Century Companies Inc. owned 0.08% of Cidara Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. VR Adviser LLC purchased a new stake in Cidara Therapeutics in the 4th quarter valued at about $20,583,000. Vivo Capital LLC lifted its stake in shares of Cidara Therapeutics by 2.0% in the 1st quarter. Vivo Capital LLC now owns 684,276 shares of the biotechnology company's stock valued at $14,739,000 after purchasing an additional 13,676 shares in the last quarter. Aberdeen Group plc acquired a new position in shares of Cidara Therapeutics in the 1st quarter valued at about $2,604,000. Stempoint Capital LP acquired a new position in shares of Cidara Therapeutics in the 4th quarter valued at about $1,281,000. Finally, Millennium Management LLC lifted its stake in shares of Cidara Therapeutics by 158.4% in the 4th quarter. Millennium Management LLC now owns 35,960 shares of the biotechnology company's stock valued at $967,000 after purchasing an additional 22,041 shares in the last quarter. Hedge funds and other institutional investors own 35.82% of the company's stock.

Insider Activity

In other Cidara Therapeutics news, Director Ra Capital Management, L.P. bought 2,272,727 shares of the business's stock in a transaction on Thursday, June 26th. The shares were bought at an average cost of $44.00 per share, with a total value of $99,999,988.00. Following the transaction, the director directly owned 3,365,523 shares in the company, valued at approximately $148,083,012. This trade represents a 207.97% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDTX. WBB Securities reaffirmed a "strong-buy" rating and issued a $45.00 price objective on shares of Cidara Therapeutics in a research note on Monday, June 23rd. HC Wainwright reaffirmed a "buy" rating and issued a $74.00 price objective (up from $53.00) on shares of Cidara Therapeutics in a research note on Friday, August 8th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Cidara Therapeutics in a research note on Tuesday, June 24th. JMP Securities lifted their price objective on Cidara Therapeutics from $59.00 to $66.00 and gave the company a "market outperform" rating in a research note on Friday, August 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $74.00 target price (up previously from $54.00) on shares of Cidara Therapeutics in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $64.14.

Cidara Therapeutics Stock Performance

Cidara Therapeutics stock opened at $63.17 on Monday. The stock's 50 day moving average price is $59.71 and its 200 day moving average price is $35.90. The firm has a market capitalization of $1.60 billion, a PE ratio of -5.68 and a beta of 1.29. Cidara Therapeutics, Inc. has a one year low of $10.14 and a one year high of $69.36.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.65) EPS for the quarter, topping the consensus estimate of ($1.87) by $0.22. On average, analysts forecast that Cidara Therapeutics, Inc. will post -8.74 earnings per share 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.

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