Nisa Investment Advisors LLC Increases Stake in Cidara Therapeutics, Inc. $CDTX

Nisa Investment Advisors LLC lifted its stake in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 4,898.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,748 shares of the biotechnology company’s stock after buying an additional 6,613 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cidara Therapeutics were worth $646,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Amalgamated Bank purchased a new position in Cidara Therapeutics in the second quarter worth approximately $28,000. Trifecta Capital Advisors LLC acquired a new stake in shares of Cidara Therapeutics in the 2nd quarter valued at $49,000. California State Teachers Retirement System purchased a new stake in shares of Cidara Therapeutics during the 2nd quarter worth $51,000. Legal & General Group Plc purchased a new stake in shares of Cidara Therapeutics during the 2nd quarter worth $73,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Cidara Therapeutics by 66.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,556 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 623 shares in the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Shane Ward sold 9,959 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $220.08, for a total transaction of $2,191,776.72. Following the completion of the sale, the chief operating officer owned 25,033 shares in the company, valued at $5,509,262.64. This represents a 28.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CDTX has been the topic of a number of analyst reports. Wall Street Zen upgraded Cidara Therapeutics to a “sell” rating in a research note on Saturday, January 10th. HC Wainwright lowered Cidara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Cidara Therapeutics in a research note on Wednesday, October 8th. WBB Securities increased their price target on shares of Cidara Therapeutics from $123.00 to $199.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 9th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cidara Therapeutics presently has an average rating of “Hold” and an average target price of $156.11.

Cidara Therapeutics Stock Up 0.0%

Shares of NASDAQ CDTX opened at $221.38 on Friday. The business has a 50-day moving average price of $208.90 and a 200 day moving average price of $121.27. The stock has a market cap of $6.96 billion, a PE ratio of -18.79 and a beta of 1.52. Cidara Therapeutics, Inc. has a 52-week low of $15.22 and a 52-week high of $221.42.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.24). Sell-side analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current 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.