Cidara Therapeutics, Inc. (NASDAQ:CDTX) Sees Significant Increase in Short Interest

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 77,100 shares, a growth of 113.6% from the December 31st total of 36,100 shares. Based on an average trading volume of 65,900 shares, the short-interest ratio is currently 1.2 days. Approximately 1.7% of the company's stock are sold short.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in 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 report on Thursday, December 5th. Cantor Fitzgerald restated an "overweight" rating on shares of Cidara Therapeutics in a research note on Monday. HC Wainwright reaffirmed a "buy" rating and set a $24.00 price objective on shares of Cidara Therapeutics in a research report on Monday, November 11th. Guggenheim assumed coverage on Cidara Therapeutics in a research report on Friday, November 8th. They set a "buy" rating and a $33.00 target price on the stock. Finally, Royal Bank of Canada started coverage on Cidara Therapeutics in a research note on Friday, December 13th. They set an "outperform" rating and a $34.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Cidara Therapeutics has an average rating of "Moderate Buy" and an average target price of $32.20.

Cidara Therapeutics Trading Down 3.1 %

Shares of Cidara Therapeutics stock traded down $0.58 on Wednesday, hitting $18.34. The stock had a trading volume of 15,185 shares, compared to its average volume of 122,260. The stock has a market cap of $129.21 million, a price-to-earnings ratio of -0.72 and a beta of 0.98. Cidara Therapeutics has a 52-week low of $10.00 and a 52-week high of $28.42. The company's 50 day moving average price is $22.06 and its 200 day moving average price is $15.60.

Institutional Investors Weigh In On Cidara Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDTX. Geode Capital Management LLC grew its position 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 acquiring an additional 9,771 shares during the last quarter. Checkpoint Capital L.P. grew 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 purchasing an additional 37,009 shares during the last quarter. Finally, RA Capital Management L.P. acquired a new position in Cidara Therapeutics in the third quarter valued at $7,558,000. Hedge funds and other institutional investors own 35.82% of the company's stock.

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.

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