Short Interest in Cidara Therapeutics, Inc. (NASDAQ:CDTX) Rises By 31.5%

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the target of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 182,000 shares, a growth of 31.5% from the January 31st total of 138,400 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average daily volume of 102,800 shares, the days-to-cover ratio is currently 1.8 days.

Cidara Therapeutics Stock Down 0.4 %

Shares of NASDAQ:CDTX traded down $0.09 during trading on Wednesday, hitting $23.08. The stock had a trading volume of 1,990 shares, compared to its average volume of 110,868. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $28.42. The stock has a market capitalization of $162.61 million, a price-to-earnings ratio of -0.90 and a beta of 0.94. The stock has a 50-day simple moving average of $22.51 and a two-hundred day simple moving average of $17.29.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $24.00 price objective on shares of Cidara Therapeutics in a report on Monday, November 11th. Guggenheim started coverage on Cidara Therapeutics in a research note on Friday, November 8th. They issued a “buy” rating and a $33.00 price target for the company. Royal Bank of Canada started coverage on Cidara Therapeutics in a research note on Friday, December 13th. They set an “outperform” rating and a $34.00 price target on the stock. Cantor Fitzgerald raised shares of Cidara Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, WBB Securities boosted their target price on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $32.20.

Hedge Funds Weigh In On Cidara Therapeutics

Institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cidara Therapeutics in the fourth quarter worth about $56,000. Northern Trust Corp lifted its holdings in Cidara Therapeutics by 6.8% in the fourth quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company’s stock valued at $913,000 after acquiring an additional 2,170 shares during the period. Point72 Asset Management L.P. purchased a new stake in Cidara Therapeutics in the 4th quarter worth approximately $165,000. Geode Capital Management LLC grew its stake in shares of Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after purchasing an additional 9,771 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Cidara Therapeutics during the 4th quarter valued at approximately $339,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

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.