Patient Square Capital LP Takes $731,000 Position in Cidara Therapeutics, Inc. $CDTX

Patient Square Capital LP acquired a new position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,000 shares of the biotechnology company’s stock, valued at approximately $731,000. Cidara Therapeutics accounts for about 0.3% of Patient Square Capital LP’s holdings, making the stock its 18th largest holding. Patient Square Capital LP owned about 0.06% of Cidara Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Adage Capital Partners GP L.L.C. lifted its stake in Cidara Therapeutics by 167.6% in the 1st 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 acquiring an additional 620,046 shares in the last quarter. Vivo Capital LLC boosted its holdings in Cidara Therapeutics by 2.0% during the first 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 bought a new position in Cidara Therapeutics in the first quarter valued at $10,868,000. Geode Capital Management LLC increased its stake in Cidara Therapeutics by 576.6% in the 2nd quarter. Geode Capital Management LLC now owns 372,010 shares of the biotechnology company’s stock valued at $18,124,000 after buying an additional 317,027 shares during the last quarter. Finally, Aberdeen Group plc boosted its stake in shares of Cidara Therapeutics by 115.0% during the 2nd quarter. Aberdeen Group plc now owns 259,916 shares of the biotechnology company’s stock worth $12,661,000 after buying an additional 139,037 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

Insider Buying and Selling at Cidara Therapeutics

In other news, insider Nicole Negar Davarpanah sold 474 shares of Cidara Therapeutics stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $62.86, for a total value of $29,795.64. Following the transaction, the insider owned 31,418 shares in the company, valued at approximately $1,974,935.48. This trade represents a 1.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.64% of the company’s stock.

Cidara Therapeutics Trading Up 0.1%

NASDAQ CDTX opened at $217.91 on Tuesday. The company has a market cap of $6.85 billion, a price-to-earnings ratio of -18.50 and a beta of 1.32. The company has a 50 day moving average of $98.72 and a 200-day moving average of $63.68. Cidara Therapeutics, Inc. has a 1-year low of $14.33 and a 1-year high of $218.85.

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

Analyst Ratings Changes

A number of brokerages have commented on CDTX. Royal Bank Of Canada cut shares of Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research note on Monday. WBB Securities boosted their target price on Cidara Therapeutics from $123.00 to $199.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 9th. Morgan Stanley downgraded Cidara Therapeutics from an “overweight” rating to an “equal weight” rating in a report on Monday. Guggenheim set a $167.00 target price on shares of Cidara Therapeutics and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cidara Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.11.

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.