Millennium Management LLC Buys 22,041 Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Millennium Management LLC boosted its holdings in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 158.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,960 shares of the biotechnology company's stock after acquiring an additional 22,041 shares during the quarter. Millennium Management LLC owned 0.51% of Cidara Therapeutics worth $967,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CDTX. BVF Inc. IL boosted its holdings in shares of Cidara Therapeutics by 55.4% during the fourth quarter. BVF Inc. IL now owns 1,092,796 shares of the biotechnology company's stock worth $29,374,000 after purchasing an additional 389,731 shares during the period. RA Capital Management L.P. grew its holdings in shares of Cidara Therapeutics by 55.4% during the 4th quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company's stock valued at $29,374,000 after acquiring an additional 389,716 shares in the last quarter. TCG Crossover Management LLC acquired a new position in shares of Cidara Therapeutics in the fourth quarter worth $26,092,000. Vivo Capital LLC purchased a new stake in shares of Cidara Therapeutics during the fourth quarter worth $18,026,000. Finally, Adage Capital Partners GP L.L.C. boosted its position in 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 valued at $9,944,000 after purchasing an additional 327,199 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Cidara Therapeutics Stock Performance

Shares of Cidara Therapeutics stock traded up $1.17 during trading on Friday, reaching $25.22. The company's stock had a trading volume of 192,832 shares, compared to its average volume of 83,453. Cidara Therapeutics, Inc. has a one year low of $10.14 and a one year high of $28.42. The firm has a market cap of $316.44 million, a price-to-earnings ratio of -0.99 and a beta of 0.86. The business's fifty day moving average price is $20.89 and its 200-day moving average price is $21.63.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) EPS for the quarter, topping 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%. Sell-side analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 EPS for the current year.

Insider Transactions at Cidara Therapeutics

In other Cidara Therapeutics news, insider Leslie Tari sold 1,773 shares of Cidara Therapeutics stock in a transaction 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 in the company, valued at $356,081.40. The trade was a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Shane Ward sold 1,664 shares of the stock in a transaction 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 transaction, 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. 3.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CDTX shares. JMP Securities reiterated a "market outperform" rating and set a $47.00 price target on shares of Cidara Therapeutics in a report on Monday. Needham & Company LLC lifted their target price on shares of Cidara Therapeutics from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday. Citizens Jmp started coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price target on the stock. Citigroup assumed coverage on shares of Cidara Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating on the stock. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 price objective (up from $31.00) on shares of Cidara Therapeutics in a report on Friday, May 23rd. One equities 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 stock. Based on data from MarketBeat, the stock currently has an average 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.