Short Interest in CDT Equity Inc. (NASDAQ:CDT) Decreases By 45.3%

CDT Equity Inc. (NASDAQ:CDT) saw a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 9,954 shares, a drop of 45.3% from the July 30th total of 18,200 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 79,218 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of CDT Equity

A hedge fund recently bought a new stake in CDT Equity stock. Great Lakes Advisors LLC acquired a new stake in shares of CDT Equity Inc. (NASDAQ:CDT) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 18,631 shares of the company’s stock, valued at approximately $991,000. Great Lakes Advisors LLC owned approximately 2.96% of CDT Equity as of its most recent SEC filing. Institutional investors own 3.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CDT shares. Wall Street Zen raised CDT Equity from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of CDT Equity in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, CDT Equity currently has a consensus rating of “Sell”.

CDT Equity Stock Performance

Shares of NASDAQ CDT traded down $0.19 during midday trading on Friday, hitting $1.69. 485,652 shares of the company traded hands, compared to its average volume of 97,100. CDT Equity has a 12-month low of $1.62 and a 12-month high of $2,739.80. The firm has a market cap of $1.34 million, a P/E ratio of -0.00 and a beta of 1.52. The stock has a 50-day moving average price of $4.06 and a 200 day moving average price of $54.19.

CDT Equity (NASDAQ:CDT) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($8.71) 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.