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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 237,800 shares, a growth of 30.7% from the February 13th total of 182,000 shares. Based on an average trading volume of 100,100 shares, the short-interest ratio is currently 2.4 days. Currently, 3.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. HC Wainwright boosted their price target on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Citizens Jmp initiated coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $46.00 target price on the stock. WBB Securities increased their price target on Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a report on Thursday, December 5th. Royal Bank of Canada began coverage on 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, JMP Securities set a $46.00 target price on Cidara Therapeutics in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $39.14.

Insider Activity

In related news, insider Leslie Tari sold 1,773 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $38,935.08. Following the completion of the transaction, the insider now directly owns 16,215 shares in the company, valued at $356,081.40. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Shane Ward sold 1,664 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $36,541.44. Following the completion of the transaction, the chief operating officer now directly owns 14,674 shares of the company’s stock, valued at $322,241.04. The trade was a 10.18 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.64% of the company’s stock.

Institutional Trading of Cidara Therapeutics

Several hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cidara Therapeutics during the 4th quarter worth $56,000. Point72 Asset Management L.P. purchased a new stake in shares of Cidara Therapeutics in the fourth quarter valued at $165,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Cidara Therapeutics during the fourth quarter valued at $339,000. Jane Street Group LLC acquired a new position in Cidara Therapeutics in the 4th quarter valued at about $342,000. Finally, Boothbay Fund Management LLC acquired a new position in Cidara Therapeutics in the 4th quarter valued at about $419,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

Cidara Therapeutics Price Performance

Shares of NASDAQ CDTX opened at $22.14 on Monday. The business has a 50-day moving average of $22.08 and a two-hundred day moving average of $17.84. The company has a market capitalization of $155.99 million, a price-to-earnings ratio of -0.86 and a beta of 0.88. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last posted its earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. As a group, equities research analysts expect that Cidara Therapeutics will post -8.74 earnings per share for the current year.

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.