Cidara Therapeutics, Inc. (NASDAQ:CDTX – Get Free Report) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 8,200 shares, a decline of 95.8% from the March 31st total of 195,400 shares. Based on an average daily volume of 40,600 shares, the days-to-cover ratio is presently 0.2 days.
Analyst Upgrades and Downgrades
CDTX has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price target on shares of Cidara Therapeutics in a research note on Monday, April 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research report on Tuesday. Needham & Company LLC lifted their target price on Cidara Therapeutics from $3.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday. Finally, WBB Securities reiterated a “strong-buy” rating and issued a $40.00 target price on shares of Cidara Therapeutics in a research report on Thursday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $71.25.
Read Our Latest Research Report on CDTX
Institutional Trading of Cidara Therapeutics
Cidara Therapeutics Stock Performance
Shares of NASDAQ:CDTX traded down $0.37 during midday trading on Friday, hitting $12.63. 199,445 shares of the stock were exchanged, compared to its average volume of 50,035. The stock has a market capitalization of $57.59 million, a price-to-earnings ratio of -2.63 and a beta of 0.98. The business’s 50-day moving average price is $15.35 and its 200 day moving average price is $15.31. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $29.60.
About Cidara Therapeutics
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.
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