What happened
In a curious twist of numbers, HighVista Strategies LLC, a fund with a penchant for mischief, planted its flag on Cidara Therapeutics (CDTX +0.04%) on November 14, 2025. They acquired 70,904 shares, a sum of $6.79 million, as if pocketing a handful of golden tickets. This stake, 1.66% of their U.S. equity assets, is a curious addition to their portfolio, which now boasts 148 such ventures.
What else to know
This is no mere pebble in the pond; it’s a stone that ripples. The $6.79 million stake, a sly whisper in the 13F report, swells to 1.66% of HighVista’s AUM. Their top five holdings, like a candy store of investments, include DBC, ABVX, MRUS, VRDN, and RVMD-each a sugary treat for the fund’s appetite.
As of November 13, 2025, Cidara’s shares danced at $105.99, a 662.52% leap over the past year. A one-year alpha of 675.44 percentage points? A veritable feast for the S&P 500, which now looks like a meager crumb.
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, a wizard of long-acting anti-infective therapies, conjures up rezafungin acetate for fungal foes and Cloudbreak platform conjugates to battle viral villains like influenza, RSV, HIV, and even the sneaky COVID-19.
- Their business model? A whimsical alchemy of discovery, development, and commercialization, all wrapped in a biotech cloak.
- They cater to healthcare providers, hospitals, and pharma partners, seeking to slay unmet needs in infectious disease and oncology-two realms where dragons still roam.
Cidara, a clinical-stage biotech, resides in San Diego, California, where they chase the dream of long-acting anti-infective elixirs for grave ailments. Their proprietary platforms, like secret recipes, aim to brew differentiated therapies for a world in need.
But here’s the twist: Merck, a giant with a greedy grin, has offered to buy Cidara for $221.50 a share, a price that makes the stock’s current value seem like a child’s piggy bank. The deal, a sudden marriage of two entities, leaves investors wondering if the wedding ring is made of gold or fool’s gold.
Foolish take
HighVista’s stake in Cidara, while curious, arrives at a time when the biotech’s stock has already soared to a 52-week high of $221.20. A curious coincidence, one might say, as Merck’s acquisition offer looms like a storm cloud. The fund’s move feels less like a calculated bet and more like a gamble with a dice that’s already been rolled.
Merck’s CEO, Robert Davis, speaks of CD388 as a “remarkable progress” and a “driver of growth,” but such words are as sweet as a lollipop-until the wrapper is peeled back. For value investors, the allure of Cidara’s stock now feels like a mirage in a desert: enticing, but likely to vanish with the dawn.
Instead, one might eye Merck’s stock as the true treasure. After all, who wouldn’t want to ride the wave of CD388’s potential sales, should they ever reach the shores of public availability? Cidara’s stock, once a promising adventure, now feels like a tale best left in the pages of a storybook.
Glossary
13F reportable assets under management (AUM): The SEC’s secret diary, revealing a fund’s hidden treasures.
New position: A venture into uncharted territory, where the fund’s compass points north.
Stake: A slice of the pie, though sometimes the pie is a mirage.
Top five holdings: The five most coveted candies in the fund’s candy jar.
Alpha: A measure of a treasure’s worth, compared to a benchmark’s dull coin.
One-year price change: A tale of a ship’s voyage, with storms and calm seas.
Clinical-stage: A realm where dreams are tested in the crucible of human trials.
Anti-infective therapies: A shield against the dark forces of bacteria, viruses, and fungi.
Proprietary platforms: The secret sauce that makes a company’s magic possible.
Commercialization: The grand unveiling of a product, like a magician’s final trick.
TTM: The 12-month period, a fleeting glance at a company’s past.
And so, dear reader, the tale ends with a question: Is Cidara’s stock a golden ticket or a trick of the light? The value investor, ever the skeptic, would say: “Check the fine print-and then double-check it.” 🎩
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2026-01-02 09:58