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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 52,800 shares, an increase of 6.0% from the November 15th total of 49,800 shares. Based on an average trading volume of 37,400 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.2% of the shares of the company are sold short.

Cidara Therapeutics Price Performance

CDTX traded down $0.37 on Tuesday, hitting $22.89. 51,420 shares of the stock were exchanged, compared to its average volume of 42,143. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $24.99. The firm has a market capitalization of $161.31 million, a price-to-earnings ratio of -0.97 and a beta of 1.13. The business has a 50-day moving average of $15.44 and a two-hundred day moving average of $13.24.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. HC Wainwright restated a “buy” rating and issued a $24.00 price target on shares of Cidara Therapeutics in a research note on Monday, November 11th. Guggenheim began coverage on Cidara Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $33.00 price objective on the stock. WBB Securities lifted their target price on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada assumed coverage on shares of Cidara Therapeutics in a research report on Friday. They issued an “outperform” rating and a $34.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

Institutional Investors Weigh In On Cidara Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Cidara Therapeutics by 22.7% in the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock valued at $569,000 after buying an additional 9,771 shares during the period. Checkpoint Capital L.P. increased its position in Cidara Therapeutics by 25.5% during the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock valued at $1,961,000 after purchasing an additional 37,009 shares during the period. Finally, RA Capital Management L.P. acquired a new stake in Cidara Therapeutics during the 3rd quarter valued at approximately $7,558,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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.