Nisa Investment Advisors LLC Grows Stock Holdings in Cidara Therapeutics, Inc. $CDTX

Nisa Investment Advisors LLC raised its stake in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 4,898.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,748 shares of the biotechnology company’s stock after acquiring an additional 6,613 shares during the period. Nisa Investment Advisors LLC’s holdings in Cidara Therapeutics were worth $646,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bain Capital Life Sciences Investors LLC raised its stake in shares of 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 purchasing an additional 1,797,600 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Cidara Therapeutics by 203.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 42,143 shares of the biotechnology company’s stock valued at $908,000 after buying an additional 28,273 shares during the period. Vivo Capital LLC increased 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 valued at $63,880,000 after buying an additional 627,149 shares during the period. Jennison Associates LLC purchased a new position in Cidara Therapeutics during the 2nd quarter worth $2,397,000. Finally, Geode Capital Management LLC lifted its stake in shares of Cidara Therapeutics by 576.6% in the 2nd quarter. Geode Capital Management LLC now owns 372,010 shares of the biotechnology company’s stock worth $18,124,000 after acquiring an additional 317,027 shares during the period. 35.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cidara Therapeutics

In other news, COO Shane Ward sold 9,959 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $220.08, for a total value of $2,191,776.72. Following the completion of the transaction, the chief operating officer owned 25,033 shares in the company, valued at $5,509,262.64. This trade represents a 28.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CDTX has been the topic of a number of recent analyst reports. Royal Bank Of Canada lowered shares of Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research note on Monday, November 17th. JPMorgan Chase & Co. lowered Cidara Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, November 17th. Morgan Stanley downgraded Cidara Therapeutics from an “overweight” rating to an “equal weight” rating in a research note on Monday, November 17th. WBB Securities raised their price target on Cidara Therapeutics from $123.00 to $199.00 and gave the company a “strong-buy” rating in a report on Thursday, October 9th. Finally, JMP Securities set a $173.00 price objective on Cidara Therapeutics and gave the stock a “market outperform” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cidara Therapeutics currently has a consensus rating of “Hold” and an average target price of $156.11.

Cidara Therapeutics Trading Up 0.0%

CDTX stock opened at $221.38 on Friday. The company has a market cap of $6.96 billion, a price-to-earnings ratio of -18.79 and a beta of 1.52. The firm has a 50 day moving average of $208.90 and a 200-day moving average of $121.27. Cidara Therapeutics, Inc. has a 12-month low of $15.22 and a 12-month high of $221.42.

Cidara Therapeutics (NASDAQ:CDTX) last released 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). Sell-side analysts forecast that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current fiscal year.

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.