CDT Equity Inc. (NASDAQ:CDT) Sees Large Decrease in Short Interest

CDT Equity Inc. (NASDAQ:CDT) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 129,934 shares, a drop of 26.9% from the February 26th total of 177,766 shares. Based on an average daily volume of 107,627 shares, the short-interest ratio is currently 1.2 days. Currently, 6.3% of the shares of the stock are sold short.

CDT Equity Price Performance

Shares of CDT Equity stock opened at $7.85 on Friday. The firm has a market cap of $706,500.00, a P/E ratio of 0.00 and a beta of 1.84. The firm has a 50 day simple moving average of $21.44 and a 200 day simple moving average of $55.72. CDT Equity has a fifty-two week low of $7.45 and a fifty-two week high of $4,200.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CDT Equity in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, CDT Equity presently has an average rating of “Sell”.

Institutional Investors Weigh In On CDT Equity

An institutional investor recently bought a new position in CDT Equity stock. Apollon Wealth Management LLC bought a new position in shares of CDT Equity Inc. (NASDAQ:CDT) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 107,454 shares of the company’s stock, valued at approximately $73,000. Apollon Wealth Management LLC owned about 28.28% of CDT Equity as of its most recent SEC filing. Institutional investors own 3.29% of the company’s stock.

CDT Equity Company Profile

Conduit Pharmaceuticals Inc, a clinical-stage specialty biopharmaceutical company, develops pharmaceutical products that provides unmet medical needs in the areas of autoimmune diseases and idiopathic male infertility. Its pipeline includes AZD1656, which has completed Phase I trials for the treatment of type 2 diabetes, renal transplant, Hashimoto's thyroiditis and Grave's disease, uveitis, and preterm labor; and AZD5904, which has completed Phase I clinical trials for the treatment of idiopathic male infertility.