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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 83,800 shares, an increase of 28.7% from the September 15th total of 65,100 shares. Based on an average daily volume of 20,500 shares, the days-to-cover ratio is presently 4.1 days. Approximately 1.4% of the shares of the stock are sold short.

Cidara Therapeutics Price Performance

Shares of NASDAQ CDTX traded up $0.09 during mid-day trading on Friday, hitting $10.61. 12,725 shares of the company’s stock traded hands, compared to its average volume of 40,427. The company’s 50-day moving average is $11.67 and its two-hundred day moving average is $12.75. The company has a market capitalization of $48.40 million, a P/E ratio of -1.38 and a beta of 1.03. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $24.40.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) EPS for the quarter, beating the consensus estimate of ($3.94) by $1.89. The company had revenue of $0.30 million for the quarter. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 109.89%. Equities analysts anticipate that Cidara Therapeutics will post -12.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. grew its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 35.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $24.00 price target on shares of Cidara Therapeutics in a research note on Monday, September 16th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cidara Therapeutics currently has a consensus rating of “Buy” and an average price target of $29.67.

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.