CDT Equity Inc. (NASDAQ:CDT) Stock Short Interest Drops 84.1%

CDT Equity Inc. (NASDAQ:CDT) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 38,202 shares, a decrease of 84.1% from the September 15th total of 239,903 shares. Based on an average daily trading volume, of 503,746 shares, the days-to-cover ratio is currently 0.1 days. Approximately 131.7% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts have commented on CDT shares. Weiss Ratings restated a “sell (e+)” rating on shares of CDT Equity in a research note on Monday, September 21st. Wall Street Zen upgraded shares of CDT Equity from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

CDT Equity Stock Down 10.3%

Shares of CDT traded down $0.08 during mid-day trading on Friday, reaching $0.72. The company had a trading volume of 464,231 shares, compared to its average volume of 495,618. CDT Equity has a 52-week low of $0.70 and a 52-week high of $28,390.00. The stock has a market capitalization of $21,540.00, a P/E ratio of -0.00 and a beta of 1.59. The stock has a 50 day moving average of $32.90 and a two-hundred day moving average of $371.53.

CDT Equity (NASDAQ:CDT) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($217.75) earnings per share for the quarter.

CDT Equity Company Profile

CDT Equity, Inc, operating under the Conduit Pharmaceuticals name, is a clinical-stage biopharmaceutical company focused on developing treatments for autoimmune and fibrotic diseases. The company seeks to advance medicines for conditions with significant unmet medical needs by acquiring or licensing promising clinical-stage drug candidates from pharmaceutical companies, universities and research institutions.

Conduit’s development strategy is centered on progressing externally sourced assets through clinical development and, where appropriate, partnering with larger pharmaceutical companies for commercialization.