Vontobel Holding Ltd. raised its holdings in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX – Free Report) by 55.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,185 shares of the biotechnology company’s stock after buying an additional 29,344 shares during the period. Vontobel Holding Ltd. owned about 0.09% of Cidara Therapeutics worth $93,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC bought a new position in shares of Cidara Therapeutics during the first quarter worth $846,000. BlackRock Inc. boosted its position in shares of Cidara Therapeutics by 459.9% during the first quarter. BlackRock Inc. now owns 741,713 shares of the biotechnology company’s stock worth $942,000 after acquiring an additional 609,247 shares during the last quarter. Millennium Management LLC boosted its position in shares of Cidara Therapeutics by 724.1% during the fourth quarter. Millennium Management LLC now owns 689,917 shares of the biotechnology company’s stock worth $522,000 after acquiring an additional 606,201 shares during the last quarter. Monashee Investment Management LLC bought a new position in shares of Cidara Therapeutics during the first quarter worth $469,000. Finally, XTX Topco Ltd bought a new position in shares of Cidara Therapeutics during the first quarter worth $189,000. 29.09% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, CEO Jeffrey Stein purchased 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average price of $0.96 per share, with a total value of $48,000.00. Following the acquisition, the chief executive officer now owns 331,602 shares in the company, valued at $318,337.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.28% of the company’s stock.
Cidara Therapeutics Stock Performance
Cidara Therapeutics (NASDAQ:CDTX – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). Cidara Therapeutics had a negative net margin of 9.72% and a negative return on equity of 67.95%. The business had revenue of $7.61 million for the quarter, compared to analyst estimates of $14.34 million. On average, research analysts forecast that Cidara Therapeutics, Inc. will post -0.31 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. StockNews.com assumed coverage on shares of Cidara Therapeutics in a research report on Thursday, October 5th. They set a “buy” rating for the company. TheStreet lowered shares of Cidara Therapeutics from a “c” rating to a “d+” rating in a research report on Friday, August 4th. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Cidara Therapeutics in a research report on Friday, September 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price objective on shares of Cidara Therapeutics in a research report on Tuesday, August 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $3.00 price objective on shares of Cidara Therapeutics in a research report on Friday, September 22nd. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $4.67.
Read Our Latest Stock Report on CDTX
Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.
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