The Rock Springs Capital Management LP Has $2,863,000 Position in Cidara Therapeutics Inc. (CDTX)

The Rock Springs Capital Management LP Has $2,863,000 Position in Cidara Therapeutics Inc. (CDTX)

Rock Springs Capital Management LP maintained its stake in shares of Cidara Therapeutics Inc. (NASDAQ:CDTX) during the third quarter, according to its most recent disclosure with the SEC. The fund owned 250,000 shares of the biotechnology company’s stock at the end of the third quarter. Rock Springs Capital Management LP’s holdings in Cidara Therapeutics were worth $2,863,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Teachers Advisors Inc. increased its position in shares of Cidara Therapeutics by 103.0% in the second quarter. Teachers Advisors Inc. now owns 14,066 shares of the biotechnology company’s stock worth $145,000 after buying an additional 7,137 shares during the period. Rhumbline Advisers bought a new position in shares of Cidara Therapeutics during the second quarter worth about $145,000. Spark Investment Management LLC increased its position in shares of Cidara Therapeutics by 26.7% in the second quarter. Spark Investment Management LLC now owns 14,700 shares of the biotechnology company’s stock worth $151,000 after buying an additional 3,100 shares during the period. Schwab Charles Investment Management Inc. bought a new position in shares of Cidara Therapeutics during the second quarter worth about $177,000. Finally, Emerald Acquisition Ltd. bought a new position in shares of Cidara Therapeutics during the second quarter worth about $183,000. 47.26% of the stock is currently owned by hedge funds and other institutional investors.

Cidara Therapeutics Inc. (NASDAQ:CDTX) traded down 2.13% during midday trading on Thursday, hitting $9.20. The stock had a trading volume of 102,453 shares. The company’s market cap is $153.39 million. The firm’s 50-day moving average price is $10.43 and its 200 day moving average price is $10.91. Cidara Therapeutics Inc. has a 12 month low of $8.65 and a 12 month high of $15.91.

A number of equities analysts have recently issued reports on CDTX shares. Cantor Fitzgerald restated a “buy” rating and set a $20.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, January 11th. HC Wainwright started coverage on Cidara Therapeutics in a research report on Monday, December 19th. They set a “buy” rating and a $25.00 price objective for the company. Zacks Investment Research upgraded Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, November 15th. Leerink Swann started coverage on Cidara Therapeutics in a research report on Wednesday, December 21st. They set an “outperform” rating and a $17.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and set a $22.00 price objective on shares of Cidara Therapeutics in a research report on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $18.94.

Cidara Therapeutics Company Profile

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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