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

CDT Equity Inc. (NASDAQ:CDT) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 62,947 shares, a decrease of 43.5% from the December 15th total of 111,333 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average daily volume of 60,024 shares, the short-interest ratio is currently 1.0 days. Based on an average daily volume of 60,024 shares, the short-interest ratio is currently 1.0 days. Currently, 4.2% of the company’s stock are sold short.

CDT Equity Trading Up 5.2%

NASDAQ CDT opened at $1.42 on Friday. CDT Equity has a 12-month low of $1.24 and a 12-month high of $921.60. The company has a fifty day simple moving average of $1.73 and a two-hundred day simple moving average of $7.19. The stock has a market cap of $2.31 million, a P/E ratio of 0.00 and a beta of 1.80.

CDT Equity (NASDAQ:CDT) last released its earnings results on Thursday, November 13th. The company reported ($13.16) earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CDT Equity in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, CDT Equity has a consensus rating of “Sell”.

Institutional Investors Weigh In On CDT Equity

A hedge fund recently bought a new stake in CDT Equity stock. Apollon Wealth Management LLC purchased a new position in CDT Equity Inc. (NASDAQ:CDT) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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.

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.