Schonfeld Strategic Advisors LLC Buys 30,057 Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX)

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

A number of other large investors have also bought and sold shares of the company. TCG Crossover Management LLC purchased a new position in shares of Cidara Therapeutics during the 4th quarter valued at $26,092,000. Vivo Capital LLC purchased a new stake in Cidara Therapeutics during the fourth quarter valued at about $18,026,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Cidara Therapeutics by 765.3% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 369,954 shares of the biotechnology company’s stock worth $9,944,000 after purchasing an additional 327,199 shares in the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Cidara Therapeutics in the fourth quarter worth about $670,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Cidara Therapeutics during the 4th quarter valued at approximately $419,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CDTX. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of Cidara Therapeutics in a research note on Thursday, April 10th. Citigroup began coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating for the company. HC Wainwright increased their price target on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Citizens Jmp initiated coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $46.00 price objective for the company. Finally, StockNews.com upgraded shares of Cidara Therapeutics to a “sell” rating in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cidara Therapeutics has an average rating of “Buy” and an average target price of $39.14.

Insiders Place Their Bets

In other Cidara Therapeutics news, insider Leslie Tari sold 1,773 shares of the business’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 $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. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 in the company, valued at $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 insiders.

Cidara Therapeutics Stock Performance

NASDAQ CDTX opened at $19.69 on Wednesday. Cidara Therapeutics, Inc. has a 52-week low of $10.14 and a 52-week high of $28.42. The company has a fifty day moving average of $20.85 and a 200-day moving average of $20.20. The company has a market capitalization of $247.05 million, a P/E ratio of -0.77 and a beta of 0.86.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results 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 return on equity of 69.64% and a negative net margin of 289.05%. As a group, analysts forecast 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.