Checkpoint Capital L.P. Buys 37,009 Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Checkpoint Capital L.P. boosted its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 25.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,426 shares of the biotechnology company’s stock after purchasing an additional 37,009 shares during the quarter. Cidara Therapeutics comprises 1.0% of Checkpoint Capital L.P.’s investment portfolio, making the stock its 12th biggest position. Checkpoint Capital L.P. owned 2.59% of Cidara Therapeutics worth $1,961,000 as of its most recent filing with the Securities & Exchange Commission.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $24.00 target price on shares of Cidara Therapeutics in a report on Monday, November 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Guggenheim assumed coverage on Cidara Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $33.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Finally, StockNews.com downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Cidara Therapeutics Price Performance

Shares of Cidara Therapeutics stock opened at $20.21 on Monday. The company’s 50 day moving average price is $13.12 and its two-hundred day moving average price is $12.50. The firm has a market capitalization of $142.48 million, a P/E ratio of -0.79 and a beta of 0.99. Cidara Therapeutics, Inc. has a fifty-two week low of $10.00 and a fifty-two week high of $24.40.

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.