Vivo Capital LLC increased its holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 2.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 684,276 shares of the biotechnology company's stock after buying an additional 13,676 shares during the period. Cidara Therapeutics comprises approximately 2.0% of Vivo Capital LLC's investment portfolio, making the stock its 7th biggest holding. Vivo Capital LLC owned about 5.45% of Cidara Therapeutics worth $14,739,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. TCG Crossover Management LLC purchased a new position in shares of Cidara Therapeutics in the 4th quarter worth approximately $26,092,000. VR Adviser LLC purchased a new position in shares of Cidara Therapeutics in the 4th quarter worth approximately $20,583,000. BVF Inc. IL grew its position in shares of Cidara Therapeutics by 55.4% in the 4th quarter. BVF Inc. IL now owns 1,092,796 shares of the biotechnology company's stock worth $29,374,000 after buying an additional 389,731 shares during the last quarter. RA Capital Management L.P. grew its position in shares of Cidara Therapeutics by 55.4% in the 4th quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company's stock worth $29,374,000 after buying an additional 389,716 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Cidara Therapeutics by 765.3% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 369,954 shares of the biotechnology company's stock worth $9,944,000 after buying an additional 327,199 shares during the last quarter. Hedge funds and other institutional investors own 35.82% of the company's stock.
Cidara Therapeutics Stock Up 0.4%
Shares of NASDAQ:CDTX traded up $0.27 during trading on Friday, hitting $62.00. The stock had a trading volume of 424,781 shares, compared to its average volume of 551,665. Cidara Therapeutics, Inc. has a 12-month low of $10.14 and a 12-month high of $66.94. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -5.57 and a beta of 1.18. The stock has a 50-day simple moving average of $45.78 and a two-hundred day simple moving average of $29.79.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.65) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.87) by $0.22. As a group, sell-side analysts forecast that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current year.
Insider Buying and Selling
In other Cidara Therapeutics news, Director Ra Capital Management, L.P. acquired 2,272,727 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was acquired at an average cost of $44.00 per share, for a total transaction of $99,999,988.00. Following the purchase, the director owned 3,365,523 shares in the company, valued at approximately $148,083,012. The trade was a 207.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.89% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. JMP Securities lifted their price objective on shares of Cidara Therapeutics from $59.00 to $66.00 and gave the stock a "market outperform" rating in a research report on Friday. WBB Securities reaffirmed a "strong-buy" rating and issued a $45.00 price objective on shares of Cidara Therapeutics in a research report on Monday, June 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Cidara Therapeutics in a research report on Tuesday, June 10th. Wall Street Zen raised shares of Cidara Therapeutics to a "sell" rating in a research report on Saturday, May 10th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Cidara Therapeutics in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.14.
Get Our Latest Stock Report on CDTX
Cidara Therapeutics Profile
(
Free Report)
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.
Featured Stories

Before you consider Cidara Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cidara Therapeutics wasn't on the list.
While Cidara Therapeutics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.