Short Interest in Cidara Therapeutics, Inc. (NASDAQ:CDTX) Increases By 6.0%

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 52,800 shares, a growth of 6.0% from the November 15th total of 49,800 shares. Based on an average daily volume of 37,400 shares, the short-interest ratio is currently 1.4 days. Currently, 1.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDTX. WBB Securities lifted their price objective 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. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price target 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 research report on Friday. They set an “outperform” rating and a $34.00 price objective on the stock. Guggenheim assumed coverage on Cidara Therapeutics in a report on Friday, November 8th. They set a “buy” rating and a $33.00 price objective for the company. Finally, StockNews.com cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.20.

Institutional Investors Weigh In On Cidara Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Checkpoint Capital L.P. increased its position in Cidara Therapeutics by 25.5% in the third quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock worth $1,961,000 after buying an additional 37,009 shares during the last quarter. RA Capital Management L.P. bought a new position in shares of Cidara Therapeutics during the 3rd quarter worth $7,558,000. Finally, Geode Capital Management LLC increased its holdings in Cidara Therapeutics by 22.7% in the 3rd 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. Institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Stock Down 1.6 %

CDTX traded down $0.37 during trading on Tuesday, hitting $22.89. 51,420 shares of the company traded hands, compared to its average volume of 42,143. The firm has a market cap of $161.31 million, a P/E ratio of -0.97 and a beta of 1.13. Cidara Therapeutics has a one year low of $10.00 and a one year high of $24.99. The stock’s fifty day moving average is $15.44 and its 200 day moving average is $13.24.

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.