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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 138,400 shares, a growth of 27.6% from the January 15th total of 108,500 shares. Based on an average daily trading volume, of 90,800 shares, the days-to-cover ratio is presently 1.5 days. Approximately 3.0% of the company’s shares are sold short.

Cidara Therapeutics Stock Performance

Cidara Therapeutics stock traded up $0.61 during midday trading on Friday, reaching $23.94. The company’s stock had a trading volume of 106,444 shares, compared to its average volume of 94,662. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $28.42. The stock’s 50 day simple moving average is $22.42 and its 200 day simple moving average is $16.37. The firm has a market capitalization of $168.78 million, a PE ratio of -0.94 and a beta of 0.94.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Cidara Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. RA Capital Management L.P. lifted its holdings in shares of Cidara Therapeutics by 55.4% in the fourth quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company’s stock valued at $29,374,000 after purchasing an additional 389,716 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Cidara Therapeutics in the 4th quarter valued at $342,000. Schonfeld Strategic Advisors LLC grew its position in Cidara Therapeutics by 154.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 49,557 shares of the biotechnology company’s stock valued at $1,332,000 after acquiring an additional 30,057 shares during the period. TCG Crossover Management LLC acquired a new stake in Cidara Therapeutics during the 4th quarter worth approximately $26,092,000. Finally, Northern Trust Corp raised its stake in shares of Cidara Therapeutics by 6.8% in the 4th 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. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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.