Cidara Therapeutics (NASDAQ:CDTX) CEO Jeffrey Stein Acquires 2,500 Shares

Cidara Therapeutics, Inc. (NASDAQ:CDTX) CEO Jeffrey Stein bought 2,500 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were acquired at an average cost of $40.01 per share, with a total value of $100,025.00. Following the completion of the purchase, the chief executive officer owned 69,371 shares in the company, valued at approximately $2,775,533.71. This represents a 3.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cidara Therapeutics Price Performance

Cidara Therapeutics stock opened at $221.38 on Thursday. The stock’s 50 day moving average price is $194.68 and its 200 day moving average price is $114.50. Cidara Therapeutics, Inc. has a 1-year low of $15.22 and a 1-year high of $221.42. The company has a market cap of $6.96 billion, a PE ratio of -18.79 and a beta of 1.52.

Cidara Therapeutics (NASDAQ:CDTX) last released 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). On average, equities research analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bain Capital Life Sciences Investors LLC boosted its stake in shares of Cidara Therapeutics by 255.7% during the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 2,500,680 shares of the biotechnology company’s stock worth $121,808,000 after purchasing an additional 1,797,600 shares during the last quarter. Vivo Capital LLC grew its stake in Cidara Therapeutics by 91.7% in the 2nd quarter. Vivo Capital LLC now owns 1,311,425 shares of the biotechnology company’s stock worth $63,880,000 after acquiring an additional 627,149 shares during the period. Vanguard Group Inc. raised its holdings in Cidara Therapeutics by 27.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,230,666 shares of the biotechnology company’s stock valued at $117,849,000 after acquiring an additional 263,961 shares during the last quarter. Commodore Capital LP purchased a new position in shares of Cidara Therapeutics during the 2nd quarter worth $57,234,000. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Cidara Therapeutics by 11.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,100,000 shares of the biotechnology company’s stock worth $53,581,000 after purchasing an additional 110,000 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CDTX. JMP Securities set a $173.00 price objective on shares of Cidara Therapeutics and gave the stock a “market outperform” rating in a report on Friday, October 3rd. Royal Bank Of Canada downgraded Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research report on Monday, November 17th. Citigroup restated a “market outperform” rating on shares of Cidara Therapeutics in a research report on Tuesday, October 21st. JPMorgan Chase & Co. downgraded Cidara Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, November 17th. Finally, Guggenheim cut shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $156.11.

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.