Cidara Therapeutics, Inc. (NASDAQ:CDTX) Shares Bought by Bank of New York Mellon Corp
Bank of New York Mellon Corp raised its position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 6.7% during the first quarter, Holdings Channel reports. The firm owned 42,350 shares of the biotechnology company’s stock after buying an additional 2,647 shares during the period. Bank of New York Mellon Corp’s holdings in Cidara Therapeutics were worth $330,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Teachers Advisors LLC boosted its stake in Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock worth $172,000 after buying an additional 2,458 shares during the period. Russell Investments Group Ltd. acquired a new stake in Cidara Therapeutics during the fourth quarter worth $173,000. Renaissance Technologies LLC boosted its stake in Cidara Therapeutics by 14.7% in the fourth quarter. Renaissance Technologies LLC now owns 49,900 shares of the biotechnology company’s stock worth $519,000 after buying an additional 6,400 shares during the period. Finally, West Family Investments Inc. acquired a new stake in Cidara Therapeutics during the first quarter worth $780,000. Institutional investors and hedge funds own 68.46% of the company’s stock.
Cidara Therapeutics, Inc. (CDTX) opened at 6.80 on Tuesday. The company’s market cap is $114.28 million. Cidara Therapeutics, Inc. has a 52-week low of $5.65 and a 52-week high of $12.95. The firm’s 50-day moving average price is $7.36 and its 200 day moving average price is $7.64.
Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings data on Wednesday, May 10th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.10. On average, equities analysts predict that Cidara Therapeutics, Inc. will post ($3.46) EPS for the current fiscal year.
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A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Cidara Therapeutics in a research note on Monday, April 10th. Cantor Fitzgerald set a $11.00 price target on Cidara Therapeutics and gave the company a “buy” rating in a research note on Thursday, May 11th. ValuEngine cut Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. BTIG Research restated a “buy” rating and issued a $20.00 price target (up previously from $15.00) on shares of Cidara Therapeutics in a research note on Saturday, April 29th. Finally, Wedbush restated an “outperform” rating and issued a $13.00 price target on shares of Cidara Therapeutics in a research note on Tuesday, May 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Cidara Therapeutics currently has a consensus rating of “Buy” and an average target price of $12.41.
In related news, insider Taylor Sandison acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were bought at an average cost of $5.90 per share, for a total transaction of $118,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Stein acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were bought at an average price of $5.95 per share, for a total transaction of $89,250.00. The disclosure for this purchase can be found here. Insiders own 18.90% of the company’s stock.
About Cidara Therapeutics
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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