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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the recipient of a large increase in short interest during 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 daily trading volume, of 37,400 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.2% of the shares of the company are sold short.

Institutional Trading of Cidara Therapeutics

A number of institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. bought a new position in shares of Cidara Therapeutics in the third quarter valued at approximately $7,558,000. Checkpoint Capital L.P. grew its holdings in Cidara Therapeutics by 25.5% in the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock valued at $1,961,000 after buying an additional 37,009 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Cidara Therapeutics by 22.7% during the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after buying an additional 9,771 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

Cidara Therapeutics Stock Performance

Shares of CDTX stock traded up $0.12 during mid-day trading on Monday, hitting $23.00. 21,620 shares of the stock traded hands, compared to its average volume of 42,039. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $24.40. The firm has a market cap of $162.15 million, a price-to-earnings ratio of -0.90 and a beta of 1.13. The company’s 50-day simple moving average is $15.19 and its 200-day simple moving average is $13.16.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada assumed coverage on shares of Cidara Therapeutics in a report on Friday. They set an “outperform” rating and a $34.00 price target for the company. WBB Securities boosted their target price 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. 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. StockNews.com downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Finally, Guggenheim assumed coverage on Cidara Therapeutics in a research report on Friday, November 8th. They issued a “buy” rating and a $33.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.20.

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.