Is Cidara Therapeutics a Buy After HighVista Strategies Initiated a Position in the Stock?
Key Points
HighVista Strategies initiated a position in Cidara Therapeutics, buying 70,904 shares valued at $6.79 million.
The position represents 1.66% of 13F reportable assets under management (AUM).
The stake represents 1.66% of AUM, which places it outside the fund's top five holdings.
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What happened
According to a November 14, 2025 SEC filing, HighVista Strategies LLC initiated a new stake in Cidara Therapeutics (NASDAQ:CDTX), acquiring 70,904 shares worth $6.79 million as of September 30, 2025. This new holding accounts for 1.66% of the fund’s reportable U.S. equity assets for the quarter. The fund reported a total of 148 reportable positions at quarter-end.
What else to know
This is a new position; the $6.79 million stake makes up 1.66% of HighVista Strategies LLC’s 13F reportable AUM as of September 30, 2025.
Top five holdings after the filing:
- NYSEMKT: DBC: $32.36 million (7.9% of AUM)
- NASDAQ: ABVX: $15.66 million (3.8% of AUM)
- NASDAQ: MRUS: $12.55 million (3.1% of AUM)
- NASDAQ: VRDN: $10.13 million (2.5% of AUM)
- NASDAQ: RVMD: $8.19 million (2.0% of AUM)
As of November 13, 2025, shares were priced at $105.99, up 662.52% over the past year, with a one-year alpha of 675.44 percentage points versus the S&P 500.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-11-13) | $105.99 |
| Market capitalization | $2.69 billion |
| Net income (TTM) | ($184.74 million) |
| One-year price change | 662.52% |
Company snapshot
- Cidara Therapeutics develops long-acting anti-infective therapies, with lead products including rezafungin acetate for invasive fungal infections and Cloudbreak platform conjugates targeting viral diseases such as influenza, RSV, HIV, and COVID-19.
- The company operates a biotechnology business model focused on the discovery, development, and commercialization of long-acting anti-infective therapeutics.
- Cidara Therapeutics serves healthcare providers, hospitals, and pharmaceutical partners in the United States and internationally, addressing unmet needs in infectious disease and oncology markets.
Cidara Therapeutics, Inc. is a clinical-stage biotechnology company headquartered in San Diego, California, with a focus on developing innovative long-acting anti-infective therapies for serious diseases.
The company leverages its proprietary platforms to address unmet medical needs in infectious disease and oncology, aiming to provide differentiated therapeutic options. Its strategic approach centers on advancing novel molecules and forging collaborations to accelerate commercialization and market reach.
Foolish take
The stake initiated by HighVista Strategies in Cidara Therapeutics during the third quarter was timely. In November, Cidara Therapeutics announced it was being acquired by Merck. This caused its stock to soar to a 52-week high of $221.20 on Dec. 3, and shares remain near that price, since Merck stated it will pay $221.50 in cash to acquire the biotech business.
Merck wants Cidara Therapeutics for its promising influenza prevention drug candidate, CD388. According to Merck's CEO Robert Davis, "We intend to build on the Cidara team’s remarkable progress and are confident that CD388 has the potential to be another important driver of growth through the next decade, creating real value for shareholders."
As a result of the acquisition, buying shares in Cidara Therapeutics at this point doesn't provide much upside. Instead, Merck may be the stock to pick up in order to benefit from the potential sales of CD388, once the drug is made available to the public.
Glossary
13F reportable assets under management (AUM): The portion of a fund's assets that must be disclosed in quarterly SEC Form 13F filings.
New position: An investment in a security that a fund did not previously hold in its portfolio.
Stake: The amount or percentage of ownership a fund holds in a particular company or security.
Top five holdings: The five largest investments in a fund's portfolio by market value.
Alpha: A measure of an investment's performance relative to a benchmark, indicating excess return above the benchmark.
One-year price change: The percentage change in a security's price over the past twelve months.
Clinical-stage: Refers to a biotechnology company developing products that are currently being tested in human clinical trials.
Anti-infective therapies: Treatments designed to prevent or treat infections caused by bacteria, viruses, fungi, or parasites.
Proprietary platforms: Unique technologies or methods owned and developed by a company to create new products.
Commercialization: The process of bringing a new product or therapy to market for sale.
TTM: The 12-month period ending with the most recent quarterly report.
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Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Merck. The Motley Fool has a disclosure policy.
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