Jefferies Financial Group Inc. Acquires New Position in Cidara Therapeutics, Inc. $CDTX

Jefferies Financial Group Inc. acquired a new stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 450,000 shares of the biotechnology company’s stock, valued at approximately $21,920,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDTX. Amalgamated Bank acquired a new position in shares of Cidara Therapeutics in the 2nd quarter valued at $28,000. Trifecta Capital Advisors LLC purchased a new stake in Cidara Therapeutics in the 2nd quarter valued at about $49,000. Legal & General Group Plc acquired a new position in Cidara Therapeutics in the second quarter valued at about $73,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Cidara Therapeutics during the second quarter worth about $184,000. Finally, American Century Companies Inc. acquired a new stake in shares of Cidara Therapeutics during the first quarter valued at about $224,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Price Performance

Cidara Therapeutics stock opened at $219.35 on Monday. The stock’s fifty day moving average is $111.10 and its two-hundred day moving average is $69.28. The stock has a market cap of $6.90 billion, a PE ratio of -18.62 and a beta of 1.32. Cidara Therapeutics, Inc. has a 1-year low of $15.22 and a 1-year high of $220.41.

Cidara Therapeutics (NASDAQ:CDTX) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.24). On average, research analysts expect that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current fiscal year.

Insider Activity at Cidara Therapeutics

In related news, insider Nicole Negar Davarpanah sold 474 shares of Cidara Therapeutics stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $62.86, for a total transaction of $29,795.64. Following the sale, the insider directly owned 31,418 shares in the company, valued at $1,974,935.48. This trade represents a 1.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.64% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup reissued a “market outperform” rating on shares of Cidara Therapeutics in a research note on Tuesday, October 21st. Guggenheim cut Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 18th. JPMorgan Chase & Co. downgraded Cidara Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, November 17th. Royal Bank Of Canada lowered Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research report on Monday, November 17th. Finally, Needham & Company LLC cut Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $156.11.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes 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.