Short Interest in Cidara Therapeutics, Inc. (CDTX) Decreases By 53.3%
Cidara Therapeutics, Inc. (NASDAQ:CDTX) was the recipient of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 536,961 shares, a decline of 53.3% from the July 31st total of 1,149,372 shares. Based on an average daily trading volume, of 109,766 shares, the short-interest ratio is presently 4.9 days. Approximately 5.6% of the company’s stock are sold short.
In other Cidara Therapeutics news, insider Taylor Sandison purchased 20,000 shares of the stock in a transaction on Wednesday, June 7th. The shares were purchased at an average cost of $5.90 per share, for a total transaction of $118,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Stein purchased 15,000 shares of the stock in a transaction on Monday, June 5th. The stock was acquired at an average price of $5.95 per share, for a total transaction of $89,250.00. The disclosure for this purchase can be found here. 18.90% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Trexquant Investment LP purchased a new stake in shares of Cidara Therapeutics during the second quarter valued at approximately $110,000. Teachers Advisors LLC increased its stake in shares of Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 2,458 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Cidara Therapeutics during the second quarter valued at approximately $129,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Cidara Therapeutics during the second quarter valued at approximately $131,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Cidara Therapeutics by 455.6% in the first quarter. JPMorgan Chase & Co. now owns 25,639 shares of the biotechnology company’s stock valued at $200,000 after buying an additional 21,024 shares in the last quarter. Institutional investors own 66.10% of the company’s stock.
Cidara Therapeutics (NASDAQ CDTX) opened at 7.20 on Friday. The stock has a 50 day moving average of $7.04 and a 200-day moving average of $7.16. The company’s market cap is $121.41 million. Cidara Therapeutics has a 12 month low of $5.60 and a 12 month high of $12.95.
Cidara Therapeutics (NASDAQ:CDTX) last announced its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by $0.08. Equities research analysts expect that Cidara Therapeutics will post ($3.62) EPS for the current year.
A number of brokerages have recently commented on CDTX. Cantor Fitzgerald set a $15.00 price objective on shares of Cidara Therapeutics and gave the company a “buy” rating in a research report on Saturday, June 24th. WBB Securities raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. ValuEngine downgraded shares of Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday. Zacks Investment Research raised shares of Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research report on Monday, June 19th. Finally, Wedbush reissued an “outperform” rating and issued a $13.00 price objective on shares of Cidara Therapeutics in a research report on Tuesday, May 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Cidara Therapeutics currently has an average rating of “Buy” and an average price target of $13.14.
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Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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