Fmr LLC maintained its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,471,553 shares of the biotechnology company’s stock at the end of the first quarter. Fmr LLC owned about 8.76% of Cidara Therapeutics worth $11,478,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Spark Investment Management LLC acquired a new stake in Cidara Therapeutics during the first quarter valued at approximately $227,000. JPMorgan Chase & Co. increased its stake in Cidara Therapeutics by 455.6% in the first quarter. JPMorgan Chase & Co. now owns 25,639 shares of the biotechnology company’s stock valued at $200,000 after buying an additional 21,024 shares during the period. Bank of New York Mellon Corp increased its stake in Cidara Therapeutics by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 42,350 shares of the biotechnology company’s stock valued at $330,000 after buying an additional 2,647 shares during the period. West Family Investments Inc. acquired a new stake in Cidara Therapeutics during the first quarter valued at approximately $780,000. Finally, Teachers Advisors LLC increased its stake in Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 2,458 shares during the period. Hedge funds and other institutional investors own 68.26% of the company’s stock.
Cidara Therapeutics, Inc. (NASDAQ:CDTX) opened at 8.00 on Monday. The firm’s 50-day moving average is $7.00 and its 200-day moving average is $7.81. The stock’s market cap is $134.45 million. Cidara Therapeutics, Inc. has a 12 month low of $5.65 and a 12 month high of $12.95.
Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Wednesday, May 10th. The biotechnology company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.10. On average, equities analysts forecast that Cidara Therapeutics, Inc. will post ($3.46) earnings per share for the current fiscal year.
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Several analysts recently commented on the stock. ValuEngine upgraded shares of Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Cantor Fitzgerald assumed coverage on shares of Cidara Therapeutics in a research report on Monday, June 26th. They issued an “overweight” rating and a $7.00 price target for the company. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Cidara Therapeutics in a research report on Tuesday, May 16th. Finally, BTIG Research reiterated a “buy” rating and issued a $20.00 price target (up previously from $15.00) on shares of Cidara Therapeutics in a research report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $12.41.
In other Cidara Therapeutics news, CEO Jeffrey Stein bought 15,000 shares of the stock in a transaction on Monday, June 5th. The shares were bought at an average price of $5.95 per share, with a total value of $89,250.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Taylor Sandison bought 20,000 shares of the stock in a transaction on Wednesday, June 7th. The shares were acquired at an average cost of $5.90 per share, for a total transaction of $118,000.00. The disclosure for this purchase can be found here. Company insiders own 18.90% of the company’s stock.
About Cidara Therapeutics
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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