Ensign Peak Advisors Inc Takes $244,000 Position in Cidara Therapeutics, Inc. $CDTX

Ensign Peak Advisors Inc acquired a new stake in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,000 shares of the biotechnology company’s stock, valued at approximately $244,000.

A number of other large investors have also added to or reduced their stakes in the stock. Amalgamated Bank bought a new position in shares of Cidara Therapeutics during the 2nd quarter valued at $28,000. Trifecta Capital Advisors LLC purchased a new stake in Cidara Therapeutics during the second quarter valued at $49,000. Police & Firemen s Retirement System of New Jersey bought a new position in Cidara Therapeutics in the second quarter valued at about $184,000. American Century Companies Inc. bought a new position in Cidara Therapeutics in the first quarter valued at about $224,000. Finally, AlphaQuest LLC purchased a new position in Cidara Therapeutics in the second quarter worth about $239,000. Institutional investors own 35.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CDTX shares. WBB Securities upped 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 report on Thursday, October 9th. Wall Street Zen lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. downgraded shares of Cidara Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, November 17th. Guggenheim cut shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Citigroup restated a “market outperform” rating on shares of Cidara Therapeutics in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $156.11.

Cidara Therapeutics Stock Performance

Shares of Cidara Therapeutics stock opened at $219.73 on Tuesday. Cidara Therapeutics, Inc. has a fifty-two week low of $15.22 and a fifty-two week high of $220.46. The company has a market capitalization of $6.91 billion, a P/E ratio of -18.65 and a beta of 1.45. The company has a fifty day moving average of $129.25 and a 200 day moving average of $77.74.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.24). Analysts forecast that Cidara Therapeutics, Inc. will post -8.74 EPS for the current year.

Insider Buying and Selling

In other Cidara Therapeutics news, insider Nicole Negar Davarpanah sold 474 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $62.86, for a total value of $29,795.64. Following the completion of the transaction, the insider directly owned 31,418 shares in the company, valued at $1,974,935.48. This represents a 1.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 7.64% of the company’s stock.

About Cidara Therapeutics

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.