Insider Buying: Cidara Therapeutics (NASDAQ:CDTX) CEO Buys $100,025.00 in Stock

Cidara Therapeutics, Inc. (NASDAQ:CDTX) CEO Jeffrey Stein acquired 2,500 shares of the business’s stock in a transaction on Tuesday, November 10th. The shares were purchased at an average price of $40.01 per share, for a total transaction of $100,025.00. Following the transaction, the chief executive officer directly owned 69,371 shares of the company’s stock, valued at approximately $2,775,533.71. The trade was a 3.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Cidara Therapeutics Trading Up 0.0%

CDTX stock opened at $221.38 on Friday. The stock has a market cap of $6.96 billion, a PE ratio of -18.79 and a beta of 1.52. Cidara Therapeutics, Inc. has a 12 month low of $15.22 and a 12 month high of $221.42. The company has a 50-day moving average price of $199.17 and a 200 day moving average price of $116.47.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.24). Sell-side analysts forecast that Cidara Therapeutics, Inc. will post -8.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank Of Canada lowered Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research note on Monday, November 17th. Citigroup reaffirmed a “market outperform” rating on shares of Cidara Therapeutics in a research note on Tuesday, October 21st. JMP Securities set a $173.00 price objective on shares of Cidara Therapeutics and gave the company a “market outperform” rating in a research report on Friday, October 3rd. Morgan Stanley lowered shares of Cidara Therapeutics from an “overweight” rating to an “equal weight” rating in a research report on Monday, November 17th. Finally, Needham & Company LLC downgraded shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cidara Therapeutics currently has an average rating of “Hold” and a consensus price target of $156.11.

Institutional Investors Weigh In On Cidara Therapeutics

Hedge funds have recently modified their holdings of the business. Bain Capital Life Sciences Investors LLC lifted its holdings in Cidara Therapeutics by 255.7% during the second quarter. Bain Capital Life Sciences Investors LLC now owns 2,500,680 shares of the biotechnology company’s stock worth $121,808,000 after buying an additional 1,797,600 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Cidara Therapeutics by 203.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 42,143 shares of the biotechnology company’s stock worth $908,000 after acquiring an additional 28,273 shares in the last quarter. Vivo Capital LLC boosted its position in Cidara Therapeutics by 91.7% during the second quarter. Vivo Capital LLC now owns 1,311,425 shares of the biotechnology company’s stock valued at $63,880,000 after purchasing an additional 627,149 shares in the last quarter. Jennison Associates LLC bought a new stake in Cidara Therapeutics during the second quarter valued at about $2,397,000. Finally, Geode Capital Management LLC grew its stake in Cidara Therapeutics by 576.6% in the second quarter. Geode Capital Management LLC now owns 372,010 shares of the biotechnology company’s stock valued at $18,124,000 after purchasing an additional 317,027 shares during the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc is a clinical‐stage biotechnology company focused on the discovery and development of long‐acting anti‐infectives and immunotherapies to address life‐threatening fungal, viral and bacterial infections. The company’s core technology platforms, including its proprietary CD‐MONT and Cloudbreak platforms, are designed to create novel therapeutic candidates with extended half‐lives and differentiated mechanisms of action. By leveraging its expertise in macromolecular conjugates and immunotherapeutic design, Cidara seeks to offer new treatment options that can reduce dosing frequency and improve patient outcomes in critical care settings.

The company’s lead asset, rezafungin, is a once‐weekly intravenous echinocandin antifungal in late‐stage development for the prevention and treatment of invasive candidiasis and other serious fungal infections.