Cidara Therapeutics, Inc. (NASDAQ:CDTX) Short Interest Update

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 76,200 shares, a decline of 23.2% from the August 15th total of 99,200 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily volume of 30,000 shares, the days-to-cover ratio is currently 2.5 days.

Cidara Therapeutics Trading Down 1.4 %

Shares of NASDAQ CDTX traded down $0.17 during trading hours on Tuesday, hitting $11.63. 7,235 shares of the company traded hands, compared to its average volume of 42,655. The stock has a market capitalization of $53.06 million, a price-to-earnings ratio of -1.51 and a beta of 1.04. The company’s 50 day moving average price is $12.17 and its 200 day moving average price is $13.21. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $24.40.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.94) by $1.89. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 109.89%. The firm had revenue of $0.30 million during the quarter. Equities analysts anticipate that Cidara Therapeutics will post -12.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CDTX shares. StockNews.com raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a research note on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of Cidara Therapeutics in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $29.67.

Institutional Investors Weigh In On Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. lifted its position in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.