VR Adviser LLC Purchases Shares of 765,723 Cidara Therapeutics, Inc. (NASDAQ:CDTX)

VR Adviser LLC acquired a new position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 765,723 shares of the biotechnology company's stock, valued at approximately $20,583,000. Cidara Therapeutics accounts for approximately 1.4% of VR Adviser LLC's holdings, making the stock its 19th biggest holding. VR Adviser LLC owned about 10.86% of Cidara Therapeutics at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. BVF Inc. IL grew its holdings in Cidara Therapeutics by 55.4% in 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 Cidara Therapeutics by 55.4% in the fourth quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company's stock worth $29,374,000 after purchasing an additional 389,716 shares during the period. TCG Crossover Management LLC acquired a new stake in Cidara Therapeutics in the fourth quarter worth $26,092,000. Vivo Capital LLC acquired a new stake in Cidara Therapeutics in the fourth quarter worth $18,026,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Cidara Therapeutics by 765.3% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 369,954 shares of the biotechnology company's stock worth $9,944,000 after purchasing an additional 327,199 shares during the period. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Leslie Tari sold 1,773 shares of the company'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 sale, the insider now owns 16,215 shares of the company's stock, valued at approximately $356,081.40. This represents a 9.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Shane Ward sold 1,664 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $36,541.44. Following the sale, the chief operating officer now directly owns 14,674 shares in the company, valued at $322,241.04. This trade represents a 10.18% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.89% of the company's stock.

Analyst Ratings Changes

A number of 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 issued an "outperform" rating on the stock. Royal Bank of Canada raised their price objective on shares of Cidara Therapeutics from $31.00 to $35.00 and gave the company an "outperform" 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 on the stock. HC Wainwright raised their price objective on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, Cantor Fitzgerald raised shares of Cidara Therapeutics to a "strong-buy" rating in a research note on Wednesday, February 5th. One investment 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. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $41.86.

Cidara Therapeutics Trading Down 5.5%

Shares of CDTX traded down $1.42 during trading hours on Friday, reaching $24.28. 163,459 shares of the stock traded hands, compared to its average volume of 78,419. The stock has a fifty day simple moving average of $20.72 and a 200 day simple moving average of $21.10. Cidara Therapeutics, Inc. has a 52 week low of $10.14 and a 52 week high of $28.42. The company has a market cap of $304.64 million, a price-to-earnings ratio of -0.95 and a beta of 0.86.

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

Cidara Therapeutics Company 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.