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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 36,100 shares, a decrease of 31.6% from the November 30th total of 52,800 shares. Based on an average daily trading volume, of 45,100 shares, the short-interest ratio is currently 0.8 days. Currently, 1.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Cidara Therapeutics

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake 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 valued at $569,000 after acquiring an additional 9,771 shares during the last quarter. RA Capital Management L.P. acquired a new position in Cidara Therapeutics during the 3rd quarter worth about $7,558,000. Finally, Checkpoint Capital L.P. grew its position in shares of Cidara Therapeutics by 25.5% in the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock valued at $1,961,000 after buying an additional 37,009 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors.

Cidara Therapeutics Stock Up 2.0 %

Shares of NASDAQ:CDTX traded up $0.47 during trading on Friday, hitting $23.69. 134,433 shares of the company were exchanged, compared to its average volume of 43,455. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $24.99. The company has a market capitalization of $166.94 million, a P/E ratio of -0.93 and a beta of 1.13. The business’s 50 day moving average is $17.64 and its 200-day moving average is $13.86.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CDTX shares. WBB Securities raised 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. Guggenheim started coverage on shares of Cidara Therapeutics in a report on Friday, November 8th. They set a “buy” rating and a $33.00 target price on the stock. StockNews.com cut shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Royal Bank of Canada started coverage on shares of Cidara Therapeutics in a research note on Friday, December 13th. They set an “outperform” rating and a $34.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $24.00 target price on shares of Cidara Therapeutics in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cidara Therapeutics presently has an average rating of “Moderate Buy” and an average target price 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.