OMERS ADMINISTRATION Corp Makes New Investment in Cidara Therapeutics, Inc. (NASDAQ:CDTX)

OMERS ADMINISTRATION Corp bought a new position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,600 shares of the biotechnology company's stock, valued at approximately $339,000. OMERS ADMINISTRATION Corp owned 0.18% of Cidara Therapeutics at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in Cidara Therapeutics during the fourth quarter worth about $342,000. Boothbay Fund Management LLC purchased a new position in Cidara Therapeutics during the fourth quarter worth about $419,000. ADAR1 Capital Management LLC purchased a new position in Cidara Therapeutics during the fourth quarter worth about $670,000. Northern Trust Corp boosted its stake in Cidara Therapeutics by 6.8% during the fourth quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock worth $913,000 after buying an additional 2,170 shares during the period. Finally, Millennium Management LLC boosted its stake in Cidara Therapeutics by 158.4% during the fourth quarter. Millennium Management LLC now owns 35,960 shares of the biotechnology company's stock worth $967,000 after buying an additional 22,041 shares during the period. Hedge funds and other institutional investors own 35.82% of the company's stock.

Cidara Therapeutics Stock Performance

NASDAQ CDTX opened at $26.49 on Tuesday. The firm has a 50 day simple moving average of $20.44 and a 200-day simple moving average of $20.80. The firm has a market cap of $332.37 million, a price-to-earnings ratio of -1.04 and a beta of 0.86. Cidara Therapeutics, Inc. has a one year low of $10.14 and a one year high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share for the quarter, beating 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%. Equities analysts predict that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.

Insider Activity at Cidara Therapeutics

In related news, COO Shane Ward sold 1,664 shares of the firm'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 value of $36,541.44. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leslie Tari sold 1,773 shares of the firm'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 completion of the sale, the insider now directly owns 16,215 shares in the company, valued at approximately $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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Citigroup assumed coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating for the company. Needham & Company LLC reissued a "buy" rating and issued a $35.00 price objective on shares of Cidara Therapeutics in a research note on Thursday, April 10th. Guggenheim raised their price objective on shares of Cidara Therapeutics from $35.00 to $50.00 and gave the company a "buy" rating in a research note on Friday. 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. Finally, JMP Securities raised 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, May 9th. 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 MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $41.71.

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.

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