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

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) was the target of a large growth in short interest in 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 short-interest ratio is presently 1.5 days. Approximately 3.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

CDTX has been the subject of several analyst reports. Cantor Fitzgerald raised shares of Cidara Therapeutics to a "strong-buy" rating in a research note on Wednesday, February 5th. 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. StockNews.com downgraded shares of Cidara Therapeutics from a "hold" rating to a "sell" rating in a research note on Monday, November 11th. HC Wainwright reissued a "buy" rating and issued a $24.00 target price on shares of Cidara Therapeutics in a research note on Monday, November 11th. Finally, Royal Bank of Canada initiated coverage on shares of Cidara Therapeutics in a research note on Friday, December 13th. They issued an "outperform" rating and a $34.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $32.20.

Cidara Therapeutics Trading Down 6.0 %

Shares of NASDAQ CDTX traded down $1.43 on Thursday, reaching $22.38. 84,259 shares of the company traded hands, compared to its average volume of 113,847. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $28.42. The company has a 50 day moving average of $22.54 and a 200 day moving average of $16.62. The stock has a market capitalization of $157.78 million, a PE ratio of -0.88 and a beta of 0.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. VR Adviser LLC acquired a new position in shares of Cidara Therapeutics during the 4th quarter valued at about $20,583,000. Stempoint Capital LP purchased a new stake in shares of Cidara Therapeutics during the 4th quarter worth about $1,281,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cidara Therapeutics in the fourth quarter valued at approximately $56,000. Point72 Asset Management L.P. purchased a new position in Cidara Therapeutics in the fourth quarter valued at approximately $165,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Cidara Therapeutics in the fourth quarter valued at approximately $339,000. Institutional investors and hedge funds 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.