Cidara Therapeutics (NASDAQ:CDTX – Get Rating) was downgraded by StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Friday.

Separately, HC Wainwright boosted their target price on Cidara Therapeutics from $6.00 to $6.50 and gave the stock a "buy" rating in a research note on Wednesday, January 25th.

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Cidara Therapeutics Stock Performance

Shares of CDTX opened at $1.63 on Friday. The stock has a 50 day moving average price of $0.95 and a two-hundred day moving average price of $0.76. The firm has a market capitalization of $116.74 million, a P/E ratio of -2.96 and a beta of 1.49. Cidara Therapeutics has a 52 week low of $0.40 and a 52 week high of $1.80.

Hedge Funds Weigh In On Cidara Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp boosted its stake in shares of Cidara Therapeutics by 14.1% in the 1st quarter. State Street Corp now owns 176,237 shares of the biotechnology company's stock worth $147,000 after buying an additional 21,837 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Cidara Therapeutics by 1.7% in the first quarter. Renaissance Technologies LLC now owns 1,437,845 shares of the biotechnology company's stock valued at $1,197,000 after purchasing an additional 23,588 shares during the last quarter. Tocqueville Asset Management L.P. lifted its stake in Cidara Therapeutics by 30.8% in the fourth quarter. Tocqueville Asset Management L.P. now owns 136,000 shares of the biotechnology company's stock valued at $103,000 after purchasing an additional 32,000 shares during the last quarter. Jeppson Wealth Management LLC lifted its stake in Cidara Therapeutics by 25.9% in the second quarter. Jeppson Wealth Management LLC now owns 181,075 shares of the biotechnology company's stock valued at $88,000 after purchasing an additional 37,225 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in Cidara Therapeutics in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 37.81% of the company's stock.

Cidara Therapeutics Company Profile

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Cidara Therapeutics, Inc is a biotechnology company, which engages in the discovery, development, and commercialization of novel anti-infectives. Its product pipeline includes Rezafungin and Cloudbreak. The company was founded by Kevin M. Forrest, Kevin J. Judice, and H. Shaw Warren in December 2012 and is headquartered in San Diego, CA.

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