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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 67,000 shares, a decline of 20.0% from the September 30th total of 83,800 shares. Based on an average daily volume of 19,700 shares, the days-to-cover ratio is presently 3.4 days. Approximately 1.1% of the shares of the stock are short sold.

Cidara Therapeutics Trading Up 7.4 %

Cidara Therapeutics stock traded up $0.92 during mid-day trading on Tuesday, reaching $13.39. The company had a trading volume of 25,478 shares, compared to its average volume of 39,469. The business has a fifty day simple moving average of $11.51 and a 200 day simple moving average of $12.07. The company has a market cap of $61.09 million, a P/E ratio of -1.74 and a beta of 1.03. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $24.40.

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

Analyst Upgrades and Downgrades

CDTX has been the topic of several recent analyst reports. StockNews.com raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 13th. HC Wainwright restated a “buy” rating and set a $24.00 price objective on shares of Cidara Therapeutics in a research report on Tuesday, October 22nd. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $29.67.

Institutional Trading of Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. boosted its holdings in shares of 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 fund owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.