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

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 100,700 shares, a decrease of 11.7% from the July 15th total of 114,000 shares. Based on an average daily trading volume, of 38,500 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.5% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts have commented on CDTX shares. WBB Securities restated a "strong-buy" rating and set a $40.00 price target on shares of Cidara Therapeutics in a research report on Thursday, April 25th. Cantor Fitzgerald reissued an "overweight" rating on shares of Cidara Therapeutics in a report on Wednesday. StockNews.com lowered Cidara Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price objective on shares of Cidara Therapeutics in a research note on Wednesday. Finally, HC Wainwright raised Cidara Therapeutics from a "neutral" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.67.

Insider Buying and Selling

In other Cidara Therapeutics news, CEO Jeffrey Stein bought 8,000 shares of the business's stock in a transaction on Friday, June 7th. The shares were purchased at an average price of $13.21 per share, with a total value of $105,680.00. Following the purchase, the chief executive officer now directly owns 24,580 shares of the company's stock, valued at $324,701.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.64% of the company's stock.

Hedge Funds Weigh In On Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. raised its position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 71.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,000 shares of the biotechnology company's stock after buying an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

Cidara Therapeutics Trading Up 1.2 %

CDTX stock traded up $0.15 on Friday, hitting $12.79. 11,723 shares of the company's stock traded hands, compared to its average volume of 45,685. The stock has a market cap of $58.35 million, a price-to-earnings ratio of -1.67 and a beta of 1.01. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $24.40. The stock has a fifty day moving average of $12.21 and a 200-day moving average of $13.46.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 15th. The biotechnology company reported ($2.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.50) by ($0.78). The company had revenue of $8.46 million during the quarter, compared to the consensus estimate of $14.50 million. Cidara Therapeutics had a negative net margin of 73.46% and a negative return on equity of 201.62%. On average, equities research analysts anticipate that Cidara Therapeutics will post -13.07 earnings per share for the current fiscal year.

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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