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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 138,400 shares, an increase of 27.6% from the January 15th total of 108,500 shares. Currently, 3.0% of the shares of the company are short sold. Based on an average trading volume of 90,800 shares, the short-interest ratio is currently 1.5 days.

Institutional Trading of Cidara Therapeutics

Several institutional investors have recently added to or reduced their stakes in CDTX. Geode Capital Management LLC lifted its position in 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 purchasing an additional 9,771 shares during the period. RA Capital Management L.P. bought a new position in Cidara Therapeutics in the third quarter valued at about $7,558,000. Checkpoint Capital L.P. grew its holdings 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 acquiring an additional 37,009 shares during the last quarter. Jane Street Group LLC acquired a new stake in Cidara Therapeutics in the fourth quarter valued at $342,000. Finally, Northern Trust Corp raised its position in shares of 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 acquiring an additional 2,170 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors.

Cidara Therapeutics Trading Up 2.6 %

Shares of Cidara Therapeutics stock traded up $0.61 during trading on Friday, hitting $23.94. 106,444 shares of the stock were exchanged, compared to its average volume of 94,662. The company has a fifty day moving average price of $22.42 and a 200-day moving average price of $16.37. The stock has a market capitalization of $168.78 million, a price-to-earnings ratio of -0.94 and a beta of 0.94. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $28.42.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CDTX shares. Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 5th. WBB Securities boosted their price target on Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 5th. HC Wainwright reaffirmed a “buy” rating and set a $24.00 price objective on shares of Cidara Therapeutics in a research note on Monday, November 11th. StockNews.com lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada assumed coverage on shares of Cidara Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $34.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $32.20.

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.