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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 113,600 shares, a growth of 5.8% from the May 31st total of 107,400 shares. Based on an average daily volume of 74,900 shares, the days-to-cover ratio is currently 1.5 days. Currently, 2.6% of the company’s stock are short sold.

Cidara Therapeutics Stock Up 1.9 %

Shares of Cidara Therapeutics stock opened at $12.16 on Friday. The firm has a market capitalization of $55.45 million, a P/E ratio of -1.58 and a beta of 1.01. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $24.40. The firm’s 50 day moving average is $12.35 and its two-hundred day moving average is $14.09.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings results on Wednesday, May 15th. The biotechnology company reported ($2.28) EPS for the quarter, missing the consensus estimate of ($1.50) by ($0.78). The company had revenue of $8.46 million during the quarter, compared to analysts’ expectations of $14.50 million. Cidara Therapeutics had a negative net margin of 73.46% and a negative return on equity of 201.62%. As a group, research analysts expect that Cidara Therapeutics will post -13.07 earnings per share for the current fiscal year.

Insider Transactions at Cidara Therapeutics

In other Cidara Therapeutics news, CEO Jeffrey Stein purchased 8,000 shares of Cidara Therapeutics stock in a transaction dated Friday, June 7th. The shares were acquired at an average price of $13.21 per share, with a total value of $105,680.00. Following the completion of the transaction, the chief executive officer now owns 24,580 shares of the company’s stock, valued at $324,701.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.64% of the company’s stock.

Hedge Funds Weigh In On Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. lifted its holdings in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. WBB Securities restated a “strong-buy” rating and set a $40.00 target price on shares of Cidara Therapeutics in a research note on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of Cidara Therapeutics in a research note on Thursday, May 16th. Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a research note on Thursday, June 20th. Finally, HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Cidara Therapeutics in a research note on Monday, April 8th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $71.25.

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.