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

Checkpoint Capital L.P. increased its position in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 25.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 182,426 shares of the biotechnology company’s stock after acquiring an additional 37,009 shares during the quarter. Cidara Therapeutics accounts for 1.0% of Checkpoint Capital L.P.’s holdings, making the stock its 12th largest position. Checkpoint Capital L.P.’s holdings in Cidara Therapeutics were worth $1,961,000 as of its most recent SEC filing.

Cidara Therapeutics Stock Performance

NASDAQ:CDTX opened at $20.21 on Monday. Cidara Therapeutics, Inc. has a 52 week low of $10.00 and a 52 week high of $24.40. The firm’s fifty day moving average is $13.12 and its 200-day moving average is $12.50. The firm has a market cap of $142.48 million, a P/E ratio of -0.79 and a beta of 0.99.

Wall Street Analyst Weigh In

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

Cidara Therapeutics Company Profile

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.