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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 195,400 shares, an increase of 8.9% from the March 15th total of 179,500 shares. Based on an average trading volume of 671,800 shares, the short-interest ratio is presently 0.3 days.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Cidara Therapeutics in a report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.67.

Institutional Investors Weigh In On Cidara Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CDTX. Renaissance Technologies LLC lifted its stake in Cidara Therapeutics by 1.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,437,845 shares of the biotechnology company’s stock valued at $1,197,000 after buying an additional 23,588 shares in the last quarter. State Street Corp lifted its stake in shares of Cidara Therapeutics by 14.1% during the 1st quarter. State Street Corp now owns 176,237 shares of the biotechnology company’s stock worth $147,000 after purchasing an additional 21,837 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cidara Therapeutics by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 592,724 shares of the biotechnology company’s stock worth $448,000 after purchasing an additional 7,743 shares during the period. Money Concepts Capital Corp purchased a new position in shares of Cidara Therapeutics during the 4th quarter worth $42,000. Finally, Millennium Management LLC lifted its stake in shares of Cidara Therapeutics by 724.1% during the 4th quarter. Millennium Management LLC now owns 689,917 shares of the biotechnology company’s stock worth $522,000 after purchasing an additional 606,201 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Stock Performance

CDTX stock traded down $0.09 on Tuesday, reaching $0.73. The company had a trading volume of 1,256,518 shares, compared to its average volume of 665,830. Cidara Therapeutics has a 1 year low of $0.59 and a 1 year high of $1.48. The company’s fifty day moving average is $0.78 and its 200 day moving average is $0.78. The company has a market cap of $66.15 million, a P/E ratio of -1.87 and a beta of 0.98.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.