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

CDT Equity Inc. (NASDAQ:CDT) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 18,200 shares, a drop of 90.2% from the July 15th total of 185,331 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average trading volume of 79,116 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CDT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of CDT Equity in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of CDT Equity from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

CDT Equity Price Performance

CDT stock traded down $0.08 during midday trading on Tuesday, hitting $3.03. The company’s stock had a trading volume of 21,728 shares, compared to its average volume of 301,568. The company’s fifty day moving average price is $5.54 and its 200 day moving average price is $81.31. CDT Equity has a twelve month low of $2.53 and a twelve month high of $3,700.00. The stock has a market capitalization of $1.91 million, a P/E ratio of -0.00 and a beta of 1.52.

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

Institutional Trading of CDT Equity

An institutional investor recently bought a new stake in CDT Equity stock. Great Lakes Advisors LLC acquired a new stake in CDT Equity Inc. (NASDAQ:CDT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 18,631 shares of the company’s stock, valued at approximately $991,000. Great Lakes Advisors LLC owned about 2.96% of CDT Equity at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.29% of the company’s stock.

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.