OMERS ADMINISTRATION Corp Has $416,000 Stake in Cidara Therapeutics, Inc. $CDTX

Key Points

• OMERS ADMINISTRATION Corp increased its ownership in Cidara Therapeutics by 53.2%, acquiring 6,700 additional shares, bringing its total holdings to 19,300 shares valued at approximately $416,000.
• Several institutions significantly boosted their stakes in Cidara Therapeutics during the fourth quarter, with Millennium Management raising its holdings by 158.4% and Schonfeld Strategic Advisors increasing theirs by 154.1%.
• Cidara Therapeutics reported an EPS of ($1.65) for its latest quarter, exceeding analysts' expectations, and analysts continue to project a negative EPS of -8.74 for the current fiscal year.

OMERS ADMINISTRATION Corp boosted its holdings in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 53.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,300 shares of the biotechnology company's stock after purchasing an additional 6,700 shares during the period. OMERS ADMINISTRATION Corp owned about 0.15% of Cidara Therapeutics worth $416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDTX. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cidara Therapeutics in the 4th quarter worth $56,000. Point72 Asset Management L.P. acquired a new position in Cidara Therapeutics during the fourth quarter valued at $165,000. American Century Companies Inc. acquired a new position in shares of Cidara Therapeutics in the first quarter worth about $224,000. West Michigan Advisors LLC acquired a new position in shares of Cidara Therapeutics during the 1st quarter worth about $291,000. Finally, Jane Street Group LLC purchased a new stake in shares of Cidara Therapeutics in the 4th quarter valued at approximately $342,000. 35.82% of the stock is owned by institutional investors.

Cidara Therapeutics Stock Down 1.1%

NASDAQ:CDTX traded down $0.69 during midday trading on Monday, hitting $62.49. The stock had a trading volume of 356,752 shares, compared to its average volume of 378,190. Cidara Therapeutics, Inc. has a one year low of $10.14 and a one year high of $69.36. The stock has a 50-day moving average of $59.71 and a 200 day moving average of $35.90. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -5.62 and a beta of 1.29.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada restated an "outperform" rating on shares of Cidara Therapeutics in a report on Tuesday, June 24th. Guggenheim restated a "buy" rating on shares of Cidara Therapeutics in a research report on Friday, August 8th. WBB Securities reiterated a "strong-buy" rating and set a $45.00 price target on shares of Cidara Therapeutics in a research note on Monday, June 23rd. Cantor Fitzgerald reissued an "overweight" rating on shares of Cidara Therapeutics in a research note on Tuesday, June 10th. Finally, JMP Securities boosted their price target on Cidara Therapeutics from $59.00 to $66.00 and gave the stock a "market outperform" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $64.14.

Insiders Place Their Bets

In other Cidara Therapeutics news, Director Ra Capital Management, L.P. bought 2,272,727 shares of Cidara Therapeutics stock in a transaction that occurred on Thursday, June 26th. The stock was purchased at an average cost of $44.00 per share, for a total transaction of $99,999,988.00. Following the completion of the acquisition, the director owned 3,365,523 shares of the company's stock, valued at approximately $148,083,012. This represents a 207.97% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.64% 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.