3,187 Shares in Cidara Therapeutics, Inc. $CDTX Bought by ANB Bank

ANB Bank bought a new position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 3,187 shares of the biotechnology company’s stock, valued at approximately $305,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Amalgamated Bank acquired a new position in shares of Cidara Therapeutics in the second quarter worth approximately $28,000. Trifecta Capital Advisors LLC acquired a new stake in Cidara Therapeutics during the 2nd quarter valued at approximately $49,000. California State Teachers Retirement System bought a new position in Cidara Therapeutics during the 2nd quarter worth approximately $51,000. Legal & General Group Plc acquired a new position in shares of Cidara Therapeutics in the 2nd quarter worth approximately $73,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Cidara Therapeutics by 66.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,556 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 623 shares during the period. Institutional investors and hedge funds own 35.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDTX. HC Wainwright cut shares of Cidara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. Morgan Stanley cut shares of Cidara Therapeutics from an “overweight” rating to an “equal weight” rating in a research report on Monday, November 17th. Wall Street Zen lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. JMP Securities set a $173.00 price objective on Cidara Therapeutics and gave the company a “market outperform” rating in a research note on Friday, October 3rd. Finally, Guggenheim cut Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cidara Therapeutics currently has an average rating of “Hold” and a consensus price target of $156.11.

Insider Activity at Cidara Therapeutics

In related news, COO Shane Ward sold 9,959 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $220.08, for a total value of $2,191,776.72. Following the sale, the chief operating officer owned 25,033 shares in the company, valued at $5,509,262.64. This represents a 28.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.64% of the stock is currently owned by insiders.

Cidara Therapeutics Stock Up 0.0%

Shares of NASDAQ:CDTX opened at $221.38 on Wednesday. Cidara Therapeutics, Inc. has a twelve month low of $15.22 and a twelve month high of $221.42. The stock’s 50 day moving average is $192.35 and its 200-day moving average is $113.75. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of -18.79 and a beta of 1.52.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.24). Equities research analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current fiscal year.

Cidara Therapeutics 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.