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

CDT Equity Inc. (NASDAQ:CDT) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 92,355 shares, a decline of 28.9% from the March 15th total of 129,934 shares. Approximately 112.6% of the company’s shares are sold short. Based on an average daily trading volume, of 115,058 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

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

CDT Equity Stock Down 24.4%

Shares of NASDAQ CDT opened at $3.53 on Friday. The firm has a market cap of $317,700.00, a price-to-earnings ratio of 0.00 and a beta of 2.10. CDT Equity has a 52-week low of $2.60 and a 52-week high of $2,008.50. The business’s 50 day moving average is $14.26 and its two-hundred day moving average is $43.25.

Institutional Trading of CDT Equity

An institutional investor recently bought a new position in CDT Equity stock. Apollon Wealth Management LLC acquired a new position in shares of CDT Equity Inc. (NASDAQ:CDT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 107,454 shares of the company’s stock, valued at approximately $73,000. Apollon Wealth Management LLC owned 28.28% of CDT Equity at the end of the most recent quarter. 3.29% of the stock is owned by hedge funds and other institutional investors.

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.