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

ADAR1 Capital Management LLC acquired a new stake in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) in the 4th quarter, HoldingsChannel reports. The firm acquired 24,938 shares of the biotechnology company’s stock, valued at approximately $670,000.

Separately, Geode Capital Management LLC lifted its stake in shares of Cidara Therapeutics by 22.7% in the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after acquiring an additional 9,771 shares during the period. Institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Trading Down 7.8 %

Shares of CDTX opened at $16.43 on Monday. The company’s fifty day simple moving average is $21.62 and its 200-day simple moving average is $18.83. The company has a market cap of $179.96 million, a P/E ratio of -0.64 and a beta of 0.89. Cidara Therapeutics, Inc. has a twelve month low of $10.00 and a twelve month high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts predict that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current fiscal year.

Insider Activity at Cidara Therapeutics

In other Cidara Therapeutics news, insider Leslie Tari sold 1,773 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 16,215 shares of the company’s stock, valued at $356,081.40. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shane Ward sold 1,664 shares of the company’s stock in a transaction on 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 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 position. The disclosure for this sale can be found here. 7.64% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $35.00 price objective on shares of Cidara Therapeutics in a report on Friday, March 7th. Royal Bank of Canada began coverage on Cidara Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $34.00 target price for the company. HC Wainwright lifted their price target on Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, March 10th. JMP Securities set a $46.00 target price on Cidara Therapeutics in a research note on Wednesday, March 12th. Finally, Citigroup assumed coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cidara Therapeutics currently has an average rating of “Buy” and an average target price of $39.14.

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.