Cidara Therapeutics, Inc. (NASDAQ:CDTX) Short Interest Up 30.7% in February

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 237,800 shares, a growth of 30.7% from the February 13th total of 182,000 shares. Based on an average trading volume of 100,100 shares, the short-interest ratio is presently 2.4 days. Currently, 3.5% of the company's shares are sold short.

Cidara Therapeutics Trading Down 2.7 %

Shares of CDTX stock traded down $0.63 on Friday, hitting $22.47. 197,853 shares of the stock were exchanged, compared to its average volume of 65,513. The firm has a market capitalization of $246.11 million, a P/E ratio of -0.88 and a beta of 0.88. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $28.42. The business has a 50-day moving average of $21.83 and a 200 day moving average of $18.05.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share for the quarter, missing analysts' consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. As a group, research analysts forecast that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

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Insiders Place Their Bets

In other news, insider Leslie Tari sold 1,773 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $38,935.08. Following the transaction, the insider now directly owns 16,215 shares in the company, valued at $356,081.40. This trade represents a 9.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Shane Ward sold 1,664 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $36,541.44. Following the completion of the sale, the chief operating officer now owns 14,674 shares of the company's stock, valued at $322,241.04. This represents a 10.18 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.64% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Checkpoint Capital L.P. lifted 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 worth $1,961,000 after buying an additional 37,009 shares in the last quarter. RA Capital Management L.P. acquired a new stake in shares of Cidara Therapeutics in the third quarter valued at about $7,558,000. Geode Capital Management LLC increased its position 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 acquiring an additional 9,771 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in Cidara Therapeutics during the fourth quarter worth about $670,000. Finally, Vivo Capital LLC acquired a new position in Cidara Therapeutics during the fourth quarter valued at approximately $18,026,000. Institutional investors and hedge funds own 35.82% of the company's stock.

Wall Street Analyst Weigh In

CDTX has been the subject of several recent analyst reports. Citizens Jmp began coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 target price for the company. Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a "strong-buy" rating in a research report on Wednesday, February 5th. 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. JMP Securities set a $46.00 target price on Cidara Therapeutics in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada started coverage on Cidara Therapeutics in a research report on Friday, December 13th. They set an "outperform" rating and a $34.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $39.14.

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.