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

CDT Equity Inc. (NASDAQ:CDT) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 18,200 shares, a decline of 90.2% from the July 15th total of 185,331 shares. Based on an average daily volume of 79,116 shares, the days-to-cover ratio is currently 0.2 days. Approximately 3.2% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen raised shares of CDT Equity from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of CDT Equity in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in CDT Equity stock. Great Lakes Advisors LLC bought a new stake in CDT Equity Inc. (NASDAQ:CDT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,631 shares of the company’s stock, valued at approximately $991,000. Great Lakes Advisors LLC owned 2.96% of CDT Equity as of its most recent filing with the Securities and Exchange Commission (SEC). 3.29% of the stock is currently owned by hedge funds and other institutional investors.

CDT Equity Stock Up 0.7%

NASDAQ CDT traded up $0.02 during trading on Wednesday, hitting $2.98. The company’s stock had a trading volume of 13,977 shares, compared to its average volume of 299,695. CDT Equity has a 52 week low of $2.53 and a 52 week high of $3,700.00. The firm has a market cap of $1.88 million, a P/E ratio of -0.00 and a beta of 1.52. The firm has a 50 day moving average price of $5.43 and a 200 day moving average price of $78.79.

CDT Equity (NASDAQ:CDT) last announced its quarterly earnings data on Wednesday, July 15th. The company reported ($55.60) earnings per share (EPS) for the quarter.

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.