Cidara Therapeutics, Inc. (NASDAQ:CDTX) Short Interest Down 31.6% in December

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the target of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 36,100 shares, a decline of 31.6% from the November 30th total of 52,800 shares. Based on an average daily volume of 45,100 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On Cidara Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of Cidara Therapeutics by 22.7% in the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after purchasing an additional 9,771 shares during the last quarter. RA Capital Management L.P. bought a new stake in Cidara Therapeutics during the 3rd quarter valued at $7,558,000. Finally, Checkpoint Capital L.P. boosted its position in Cidara Therapeutics by 25.5% during the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock valued at $1,961,000 after buying an additional 37,009 shares during the period. 35.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CDTX has been the topic of a number of research analyst reports. Guggenheim assumed coverage on shares of Cidara Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $33.00 price target on the stock. StockNews.com cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Royal Bank of Canada initiated coverage on Cidara Therapeutics in a research report on Friday, December 13th. They set an “outperform” rating and a $34.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a report on Monday, November 11th. Finally, WBB Securities raised their price objective on Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cidara Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $32.20.

Cidara Therapeutics Trading Up 3.4 %

Shares of NASDAQ:CDTX traded up $0.81 on Monday, reaching $24.50. 76,872 shares of the company traded hands, compared to its average volume of 43,571. The stock has a market capitalization of $172.65 million, a P/E ratio of -0.96 and a beta of 1.13. The business’s 50-day simple moving average is $17.64 and its 200 day simple moving average is $13.86. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $24.99.

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.