RA Capital Management L.P. Buys 389,716 Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX)

RA Capital Management L.P. lifted its holdings in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 55.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,092,796 shares of the biotechnology company's stock after purchasing an additional 389,716 shares during the quarter. RA Capital Management L.P. owned 15.50% of Cidara Therapeutics worth $29,374,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CDTX. Jane Street Group LLC acquired a new position in shares of Cidara Therapeutics in the fourth quarter valued at approximately $342,000. Boothbay Fund Management LLC bought a new stake in shares of Cidara Therapeutics in the fourth quarter valued at about $419,000. Geode Capital Management LLC boosted its position in shares of Cidara Therapeutics by 22.7% during the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company's stock worth $569,000 after buying an additional 9,771 shares during the period. ADAR1 Capital Management LLC acquired a new stake in Cidara Therapeutics in the 4th quarter valued at approximately $670,000. Finally, Northern Trust Corp lifted its stake in Cidara Therapeutics by 6.8% in 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 in the last quarter. Institutional investors own 35.82% of the company's stock.

Cidara Therapeutics Stock Down 5.8 %

CDTX traded down $1.26 during trading on Tuesday, hitting $20.25. 40,371 shares of the company's stock were exchanged, compared to its average volume of 132,487. The stock has a market cap of $254.01 million, a P/E ratio of -0.79 and a beta of 0.86. The business's 50 day moving average is $20.93 and its two-hundred day moving average is $20.20. Cidara Therapeutics, Inc. has a fifty-two week low of $10.14 and a fifty-two week high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. On average, 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, COO Shane Ward sold 1,664 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were 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 directly owns 14,674 shares in the company, valued at $322,241.04. This trade represents a 10.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Leslie Tari sold 1,773 shares of the stock in a transaction dated Tuesday, March 11th. The stock was 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 of the company's stock, valued at approximately $356,081.40. The trade was a 9.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.64% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on CDTX. Cantor Fitzgerald raised shares of Cidara Therapeutics to a "strong-buy" rating in a research report on Wednesday, February 5th. JMP Securities restated a "market outperform" rating and issued a $46.00 price objective on shares of Cidara Therapeutics in a report on Tuesday, April 29th. Citizens Jmp began coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $35.00 price target on shares of Cidara Therapeutics in a research report on Thursday, April 10th. Finally, Citigroup initiated coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $39.14.

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.