24,938 Shares in Cidara Therapeutics, Inc. (NASDAQ:CDTX) Bought by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC bought a new position in Cidara Therapeutics, Inc. (NASDAQ:CDTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,938 shares of the biotechnology company’s stock, valued at approximately $670,000. ADAR1 Capital Management LLC owned about 0.35% of Cidara Therapeutics as of its most recent SEC filing.

Separately, Geode Capital Management LLC lifted its position in shares of Cidara Therapeutics by 22.7% in the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock valued at $569,000 after acquiring an additional 9,771 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

Cidara Therapeutics Trading Down 7.8 %

CDTX opened at $16.43 on Monday. Cidara Therapeutics, Inc. has a 1-year low of $10.00 and a 1-year high of $28.42. The company has a market capitalization of $179.96 million, a PE ratio of -0.64 and a beta of 0.89. The firm’s 50 day simple moving average is $21.62 and its two-hundred day simple moving average is $18.83.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing analysts’ consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. Equities analysts forecast that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citizens Jmp started coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating and a $46.00 target price for the company. Cantor Fitzgerald upgraded Cidara Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $35.00 target price on shares of Cidara Therapeutics in a research report on Friday, March 7th. Royal Bank of Canada started coverage on Cidara Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $34.00 price objective for the company. Finally, StockNews.com upgraded shares of Cidara Therapeutics to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $39.14.

Insider Activity at Cidara Therapeutics

In related news, insider Leslie Tari sold 1,773 shares of the business’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 sale, the insider now directly owns 16,215 shares in the company, valued at $356,081.40. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Shane Ward sold 1,664 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 transaction of $36,541.44. Following the completion of the transaction, the chief operating officer now directly owns 14,674 shares in the company, valued at approximately $322,241.04. This trade represents a 10.18 % 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.

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.