OMERS ADMINISTRATION Corp Buys Shares of 12,600 Cidara Therapeutics, Inc. (NASDAQ:CDTX)

OMERS ADMINISTRATION Corp bought a new position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,600 shares of the biotechnology company's stock, valued at approximately $339,000. OMERS ADMINISTRATION Corp owned about 0.18% of Cidara Therapeutics at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. ADAR1 Capital Management LLC acquired a new stake in Cidara Therapeutics during the 4th quarter valued at approximately $670,000. Vivo Capital LLC acquired a new stake in Cidara Therapeutics during the 4th quarter valued at approximately $18,026,000. Adage Capital Partners GP L.L.C. lifted its stake in Cidara Therapeutics by 765.3% during 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 acquiring an additional 327,199 shares during the period. Boothbay Fund Management LLC acquired a new stake in Cidara Therapeutics during the 4th quarter valued at approximately $419,000. Finally, Northern Trust Corp lifted its stake in Cidara Therapeutics by 6.8% during the 4th quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock valued at $913,000 after acquiring an additional 2,170 shares during the period. Hedge funds and other institutional investors own 35.82% of the company's stock.

Insider Transactions at Cidara Therapeutics

In other Cidara Therapeutics news, COO Shane Ward sold 1,664 shares of Cidara Therapeutics stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $36,541.44. Following the completion of the sale, the chief operating officer now owns 14,674 shares in the company, valued at $322,241.04. The trade was a 10.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction, the insider now owns 16,215 shares in the company, valued at $356,081.40. The trade was a 9.86% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.89% of the company's stock.

Cidara Therapeutics Trading Down 5.5%

NASDAQ:CDTX traded down $1.42 during mid-day trading on Friday, hitting $24.28. The stock had a trading volume of 163,459 shares, compared to its average volume of 78,419. The stock has a 50-day simple moving average of $20.72 and a two-hundred day simple moving average of $21.15. The company has a market capitalization of $304.64 million, a PE ratio of -0.95 and a beta of 0.86. Cidara Therapeutics, Inc. has a twelve month low of $10.14 and a twelve month 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%. Sell-side analysts predict that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CDTX shares. JMP Securities boosted their target price 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. Citigroup started coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating for the company. Citizens Jmp initiated coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 target price for the company. Royal Bank of Canada upped their price objective on shares of Cidara Therapeutics from $31.00 to $35.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Guggenheim upped their price objective on shares of Cidara Therapeutics from $35.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $41.86.

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.