Cidara Therapeutics, Inc. $CDTX Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. raised its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 203.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 42,143 shares of the biotechnology company’s stock after buying an additional 28,273 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.34% of Cidara Therapeutics worth $908,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its stake in shares of Cidara Therapeutics by 167.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 990,000 shares of the biotechnology company’s stock valued at $21,325,000 after purchasing an additional 620,046 shares in the last quarter. Vivo Capital LLC grew its stake in shares of Cidara Therapeutics by 2.0% in the 1st quarter. Vivo Capital LLC now owns 684,276 shares of the biotechnology company’s stock worth $14,739,000 after purchasing an additional 13,676 shares during the last quarter. Vestal Point Capital LP purchased a new position in Cidara Therapeutics in the 1st quarter worth about $10,868,000. Aberdeen Group plc purchased a new position in Cidara Therapeutics in the 1st quarter worth about $2,604,000. Finally, Millennium Management LLC increased its stake in Cidara Therapeutics by 158.4% in the 4th quarter. Millennium Management LLC now owns 35,960 shares of the biotechnology company’s stock worth $967,000 after purchasing an additional 22,041 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors.

Cidara Therapeutics Stock Up 9.8%

Cidara Therapeutics stock opened at $75.47 on Tuesday. Cidara Therapeutics, Inc. has a 12-month low of $10.14 and a 12-month high of $75.64. The business’s 50-day simple moving average is $63.38 and its 200 day simple moving average is $39.26. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -6.78 and a beta of 1.29.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($1.65) earnings per share for the quarter, beating the consensus estimate of ($1.87) by $0.22. As a group, sell-side analysts expect that Cidara Therapeutics, Inc. will post -8.74 EPS for the current year.

Wall Street Analyst Weigh In

CDTX has been the subject of a number of research analyst reports. WBB Securities reissued a “strong-buy” rating on shares of Cidara Therapeutics in a research report on Monday. Guggenheim restated a “buy” rating on shares of Cidara Therapeutics in a report on Friday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $74.00 target price (up from $54.00) on shares of Cidara Therapeutics in a report on Friday, August 8th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Cidara Therapeutics in a report on Tuesday, June 24th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a research note on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat.com, Cidara Therapeutics currently has an average rating of “Buy” and an average target price of $75.29.

Insider Transactions at Cidara Therapeutics

In other news, insider Nicole Negar Davarpanah sold 474 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $62.86, for a total transaction of $29,795.64. Following the sale, the insider owned 31,418 shares of the company’s stock, valued at $1,974,935.48. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ra Capital Management, L.P. acquired 2,272,727 shares of the firm’s stock in a transaction that occurred on Thursday, June 26th. The shares were purchased at an average price of $44.00 per share, with a total value of $99,999,988.00. Following the completion of the acquisition, the director owned 3,365,523 shares of the company’s stock, valued at $148,083,012. This represents a 207.97% increase in their position. The disclosure for this purchase can be found here. Company insiders own 7.64% of the company’s stock.

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.