Fosun International Ltd Buys New Holdings in Cidara Therapeutics Inc (CDTX)
Fosun International Ltd bought a new position in shares of Cidara Therapeutics Inc (NASDAQ:CDTX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 306,686 shares of the biotechnology company’s stock, valued at approximately $1,365,000. Fosun International Ltd owned about 1.11% of Cidara Therapeutics at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Cidara Therapeutics by 88.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 149,050 shares of the biotechnology company’s stock worth $656,000 after purchasing an additional 69,998 shares during the last quarter. Alethea Capital Management LLC boosted its holdings in shares of Cidara Therapeutics by 300.9% during the 3rd quarter. Alethea Capital Management LLC now owns 437,357 shares of the biotechnology company’s stock worth $1,924,000 after purchasing an additional 328,263 shares during the last quarter. Granahan Investment Management Inc. MA acquired a new position in shares of Cidara Therapeutics during the 2nd quarter worth approximately $2,371,000. Opaleye Management Inc. acquired a new position in shares of Cidara Therapeutics during the 2nd quarter worth approximately $6,240,000. Finally, Stonepine Capital Management LLC acquired a new position in shares of Cidara Therapeutics during the 2nd quarter worth approximately $2,213,000. Institutional investors and hedge funds own 68.77% of the company’s stock.
CDTX opened at $3.68 on Tuesday. Cidara Therapeutics Inc has a one year low of $3.36 and a one year high of $8.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.78 and a quick ratio of 6.78.
Several brokerages have recently weighed in on CDTX. Cantor Fitzgerald restated a “buy” rating and set a $15.00 target price on shares of Cidara Therapeutics in a report on Wednesday, August 8th. Zacks Investment Research cut Cidara Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Needham & Company LLC set a $14.00 target price on Cidara Therapeutics and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, Citigroup assumed coverage on Cidara Therapeutics in a report on Wednesday, July 25th. They issued a “buy” rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $10.38.
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Cidara Therapeutics Profile
Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.
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