Schonfeld Strategic Advisors LLC Boosts Stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Schonfeld Strategic Advisors LLC raised its position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 154.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,557 shares of the biotechnology company's stock after acquiring an additional 30,057 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 0.70% of Cidara Therapeutics worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TCG Crossover Management LLC bought a new stake in Cidara Therapeutics during the fourth quarter worth approximately $26,092,000. Northern Trust Corp increased 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 worth $913,000 after buying an additional 2,170 shares during the period. Boothbay Fund Management LLC bought a new position in Cidara Therapeutics in the fourth quarter worth approximately $419,000. Adage Capital Partners GP L.L.C. lifted its holdings 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 period. Finally, Vivo Capital LLC purchased a new stake in Cidara Therapeutics in the fourth quarter worth about $18,026,000. 35.82% of the stock is currently owned by institutional investors.

Insider Activity at Cidara Therapeutics

In other Cidara Therapeutics news, COO Shane Ward sold 1,664 shares of the 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 owns 14,674 shares in the company, valued at approximately $322,241.04. This represents a 10.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leslie Tari sold 1,773 shares of Cidara Therapeutics stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $38,935.08. Following the transaction, the insider now owns 16,215 shares in the company, valued at approximately $356,081.40. The trade was 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.

Cidara Therapeutics Trading Up 3.6%

Cidara Therapeutics stock traded up $0.67 during mid-day trading on Monday, hitting $19.30. The company had a trading volume of 11,081 shares, compared to its average volume of 128,748. The company's fifty day moving average is $20.56 and its 200-day moving average is $20.42. Cidara Therapeutics, Inc. has a 12-month low of $10.14 and a 12-month high of $28.42. The company has a market capitalization of $242.09 million, a price-to-earnings ratio of -0.76 and a beta of 0.86.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on CDTX shares. HC Wainwright upped their target price on Cidara Therapeutics from $24.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, March 10th. JMP Securities upped their price objective on Cidara Therapeutics from $46.00 to $47.00 and gave the stock a "market outperform" rating in a research note on Friday. Cantor Fitzgerald raised Cidara Therapeutics to a "strong-buy" rating in a research report on Wednesday, February 5th. Guggenheim raised their price target on Cidara Therapeutics from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Friday. Finally, StockNews.com raised shares of Cidara Therapeutics to a "sell" rating in a report on Saturday. 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's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $39.57.

Cidara Therapeutics 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.