Short Interest in Cidara Therapeutics, Inc. (NASDAQ:CDTX) Grows By 31.5%

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 182,000 shares, an increase of 31.5% from the January 31st total of 138,400 shares. Based on an average daily trading volume, of 102,800 shares, the short-interest ratio is currently 1.8 days. Approximately 2.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cidara Therapeutics in the 4th quarter worth about $56,000. Northern Trust Corp grew its stake in Cidara Therapeutics by 6.8% during the fourth quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock worth $913,000 after buying an additional 2,170 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Cidara Therapeutics during the fourth quarter worth about $165,000. Geode Capital Management LLC increased 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 in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Cidara Therapeutics in the fourth quarter valued at approximately $339,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Cidara Therapeutics Trading Up 0.2 %

NASDAQ:CDTX traded up $0.05 during mid-day trading on Friday, hitting $23.66. The company's stock had a trading volume of 52,851 shares, compared to its average volume of 109,322. The company has a market capitalization of $166.73 million, a price-to-earnings ratio of -0.93 and a beta of 0.94. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $28.42. The stock has a fifty day moving average of $22.52 and a 200-day moving average of $17.37.

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Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) 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%. On average, equities analysts anticipate that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CDTX shares. HC Wainwright restated a "buy" rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a research note on Monday, November 11th. Royal Bank of Canada began coverage on shares of Cidara Therapeutics in a report on Friday, December 13th. They issued an "outperform" rating and a $34.00 price target for the company. Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a "strong-buy" rating in a report on Wednesday, February 5th. Needham & Company LLC reissued a "buy" rating and set a $35.00 target price on shares of Cidara Therapeutics in a research report on Friday. Finally, StockNews.com downgraded Cidara Therapeutics from a "hold" rating to a "sell" rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $34.20.

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.