Target N. V. Biotech Acquires 60,000 Shares of Cidara Therapeutics, Inc. (CDTX) Stock

Cidara Therapeutics, Inc. (NASDAQ:CDTX) major shareholder Target N. V. Biotech acquired 60,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $7.57 per share, with a total value of $454,200.00. Following the transaction, the insider now owns 2,295,272 shares in the company, valued at approximately $17,375,209.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Cidara Therapeutics, Inc. (NASDAQ CDTX) opened at $7.85 on Friday. The company has a current ratio of 7.69, a quick ratio of 7.69 and a debt-to-equity ratio of 0.16. Cidara Therapeutics, Inc. has a twelve month low of $5.60 and a twelve month high of $11.75.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.73) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.21. analysts expect that Cidara Therapeutics, Inc. will post -3.31 EPS for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the business. Broadfin Capital LLC boosted its stake in shares of Cidara Therapeutics by 45.0% during the 2nd quarter. Broadfin Capital LLC now owns 816,275 shares of the biotechnology company’s stock worth $6,122,000 after purchasing an additional 253,400 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Cidara Therapeutics during the 2nd quarter worth about $350,000. Trellus Management Company LLC acquired a new stake in shares of Cidara Therapeutics during the 2nd quarter worth about $338,000. BB Biotech AG boosted its stake in shares of Cidara Therapeutics by 5.6% during the 2nd quarter. BB Biotech AG now owns 1,102,578 shares of the biotechnology company’s stock worth $8,269,000 after purchasing an additional 58,754 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Cidara Therapeutics by 4.9% during the 1st quarter. TIAA CREF Investment Management LLC now owns 39,065 shares of the biotechnology company’s stock worth $305,000 after purchasing an additional 1,840 shares during the last quarter. 66.11% of the stock is currently owned by institutional investors.

CDTX has been the subject of a number of analyst reports. Cantor Fitzgerald set a $15.00 price objective on shares of Cidara Therapeutics and gave the stock a “buy” rating in a research report on Thursday, August 10th. WBB Securities upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. ValuEngine downgraded shares of Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, HC Wainwright upped their price objective on shares of Cidara Therapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $13.39.

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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