Geode Capital Management LLC Buys 9,771 Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Geode Capital Management LLC raised its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 22.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,898 shares of the biotechnology company’s stock after buying an additional 9,771 shares during the period. Geode Capital Management LLC owned about 0.75% of Cidara Therapeutics worth $569,000 as of its most recent SEC filing.

Separately, Checkpoint Capital L.P. grew its position in shares of Cidara Therapeutics by 25.5% in the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock valued at $1,961,000 after buying an additional 37,009 shares during the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada started coverage on Cidara Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $34.00 price target on the stock. WBB Securities upped their target price on Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research report on Thursday, December 5th. StockNews.com lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Guggenheim started coverage on Cidara Therapeutics in a research report on Friday, November 8th. They set a “buy” rating and a $33.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $24.00 target price on shares of Cidara Therapeutics in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cidara Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $32.20.

Cidara Therapeutics Stock Performance

Shares of NASDAQ:CDTX opened at $24.00 on Friday. The business’s 50 day simple moving average is $20.40 and its two-hundred day simple moving average is $14.81. The firm has a market cap of $169.13 million, a P/E ratio of -0.94 and a beta of 0.98. Cidara Therapeutics, Inc. has a 52-week low of $10.00 and a 52-week high of $28.42.

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.