Point72 Asia Singapore Pte. Ltd. Buys New Shares in Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,085 shares of the biotechnology company’s stock, valued at approximately $56,000.

A number of other large investors also recently modified their holdings of the business. ADAR1 Capital Management LLC bought a new stake in Cidara Therapeutics during the fourth quarter worth about $670,000. Vivo Capital LLC bought a new stake in shares of Cidara Therapeutics during the 4th quarter worth approximately $18,026,000. Adage Capital Partners GP L.L.C. boosted 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 valued at $9,944,000 after buying an additional 327,199 shares during the last quarter. Boothbay Fund Management LLC bought a new position in shares of Cidara Therapeutics in the fourth quarter valued at $419,000. Finally, Northern Trust Corp grew its stake in shares of Cidara Therapeutics by 6.8% in the fourth quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company’s stock valued at $913,000 after buying an additional 2,170 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Leslie Tari sold 1,773 shares of the 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 $38,935.08. Following the sale, the insider now owns 16,215 shares of the company’s stock, valued at $356,081.40. This represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Shane Ward sold 1,664 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 $36,541.44. Following the transaction, the chief operating officer now 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. 3.89% of the stock is owned by insiders.

Cidara Therapeutics Trading Up 21.2%

Shares of NASDAQ CDTX opened at $25.50 on Monday. The firm has a market cap of $319.95 million, a P/E ratio of -1.00 and a beta of 0.86. The business’s 50 day moving average is $20.37 and its 200-day moving average is $20.70. Cidara Therapeutics, Inc. has a 1-year low of $10.14 and a 1-year high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share for the quarter, topping the consensus estimate of ($5.45) by $3.79. Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. Analysts forecast that Cidara Therapeutics, Inc. will post -8.74 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on CDTX shares. Guggenheim increased their price target on shares of Cidara Therapeutics from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Friday. HC Wainwright raised their target price on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Citizens Jmp assumed coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $46.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $35.00 price objective on shares of Cidara Therapeutics in a research note on Thursday, April 10th. Finally, Citigroup initiated coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Cidara Therapeutics presently has a consensus rating of “Buy” and an average target price of $41.71.

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.