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

CDT Equity Inc. (NASDAQ:CDT) was the target of a significant growth in short interest in May. As of May 29th, there was short interest totaling 53,538 shares, a growth of 70.8% from the May 14th total of 31,350 shares. Based on an average daily trading volume, of 5,554,158 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CDT Equity in a report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

CDT Equity Trading Up 1.1%

Shares of CDT Equity stock opened at $0.72 on Wednesday. The stock has a fifty day simple moving average of $2.16 and a 200 day simple moving average of $18.93. CDT Equity has a 12-month low of $0.67 and a 12-month high of $610.00. The company has a market capitalization of $3.49 million, a P/E ratio of 0.00 and a beta of 1.44.

About CDT Equity

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.