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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the target of a large 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 trading volume, of 74,900 shares, the short-interest ratio is presently 1.5 days. Currently, 2.6% of the company’s stock are sold short.

Insider Activity

In other news, CEO Jeffrey Stein purchased 8,000 shares of the stock in a transaction dated Friday, June 7th. The shares were acquired at an average cost of $13.21 per share, for a total transaction of $105,680.00. Following the acquisition, the chief executive officer now owns 24,580 shares of the company’s stock, valued at $324,701.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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 position 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 firm owned 163,000 shares of the biotechnology company’s stock after purchasing an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 as of its most recent SEC filing. 35.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CDTX has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a research report on Thursday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Cidara Therapeutics in a research report on Thursday, May 16th. WBB Securities reaffirmed a “strong-buy” rating and issued a $40.00 price objective on shares of Cidara Therapeutics in a research report on Thursday, April 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cidara Therapeutics in a research report 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 company’s stock. According to MarketBeat, Cidara Therapeutics currently has an average rating of “Buy” and a consensus price target of $71.25.

Cidara Therapeutics Trading Up 1.9 %

CDTX opened at $12.16 on Friday. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $24.40. The firm has a market capitalization of $55.45 million, a PE ratio of -1.58 and a beta of 1.01. The firm has a 50 day moving average of $12.35 and a two-hundred day moving average of $14.09.

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