Vivo Capital LLC Makes New $18.03 Million Investment in Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Vivo Capital LLC purchased a new stake in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 670,600 shares of the biotechnology company's stock, valued at approximately $18,026,000. Cidara Therapeutics makes up approximately 2.0% of Vivo Capital LLC's portfolio, making the stock its 10th biggest position. Vivo Capital LLC owned about 9.51% of Cidara Therapeutics as of its most recent SEC filing.

Separately, 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 valued at $569,000 after buying an additional 9,771 shares during the last quarter. 35.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CDTX has been the topic of several research analyst reports. Cantor Fitzgerald raised Cidara Therapeutics to a "strong-buy" rating in a report on Wednesday, February 5th. StockNews.com upgraded Cidara Therapeutics to a "sell" rating in a research note on Wednesday, April 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $35.00 price target on shares of Cidara Therapeutics in a research report on Thursday, April 10th. JMP Securities set a $46.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. Finally, Citigroup began coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Cidara Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $39.14.

Insider Buying and Selling at Cidara Therapeutics

In related 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 transaction, the chief operating officer now directly owns 14,674 shares of the company's stock, valued at approximately $322,241.04. This trade represents a 10.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $38,935.08. Following the completion of the transaction, the insider now owns 16,215 shares in the company, valued at approximately $356,081.40. This trade represents a 9.86 % decrease in their position. The disclosure for this sale can be found here. 7.64% of the stock is owned by corporate insiders.

Cidara Therapeutics Stock Up 0.3 %

Shares of CDTX traded up $0.06 during trading hours on Friday, reaching $21.54. 50,806 shares of the company traded hands, compared to its average volume of 71,842. The business has a fifty day moving average price of $21.01 and a 200-day moving average price of $19.63. Cidara Therapeutics, Inc. has a 12-month low of $10.14 and a 12-month high of $28.42. The stock has a market capitalization of $235.93 million, a P/E ratio of -0.84 and a beta of 0.89.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last posted its quarterly earnings results 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%. As a group, research analysts predict that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.

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.