Cidara Therapeutics, Inc. (NASDAQ:CDTX) Short Interest Up 31.5% in February

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 182,000 shares, a growth of 31.5% from the January 31st total of 138,400 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average trading volume of 102,800 shares, the short-interest ratio is currently 1.8 days.

Cidara Therapeutics Trading Up 1.5 %

CDTX stock opened at $23.50 on Thursday. The stock has a market cap of $165.60 million, a PE ratio of -0.92 and a beta of 0.94. The stock has a 50-day moving average price of $22.51 and a two-hundred day moving average price of $17.29. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $28.42.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Checkpoint Capital L.P. grew its stake in shares of 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 in the last quarter. RA Capital Management L.P. bought a new stake in Cidara Therapeutics during the 3rd quarter worth about $7,558,000. Geode Capital Management LLC lifted its position in Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after buying an additional 9,771 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of Cidara Therapeutics during the 4th quarter worth about $670,000. Finally, Vivo Capital LLC bought a new position in shares of Cidara Therapeutics in the 4th quarter valued at about $18,026,000. 35.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CDTX. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 target price on shares of Cidara Therapeutics in a research note on Monday, November 11th. WBB Securities raised their price objective on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research note on Thursday, December 5th. Guggenheim assumed coverage on 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 downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Finally, Cantor Fitzgerald upgraded Cidara Therapeutics to a “strong-buy” rating in a report on Wednesday, February 5th. One 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $32.20.

Cidara Therapeutics Company Profile

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.