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

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

Hedge Funds Weigh In On CDT Equity

An institutional investor 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 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 quarter. 3.29% of the stock is currently owned by hedge funds and other institutional investors.

CDT Equity Trading Down 10.1%

CDT stock traded down $0.19 during midday trading on Friday, hitting $1.69. The company had a trading volume of 485,652 shares, compared to its average volume of 97,100. The stock has a market cap of $1.34 million, a price-to-earnings ratio of -0.00 and a beta of 1.52. CDT Equity has a 52 week low of $1.62 and a 52 week high of $2,739.80. The stock’s 50 day moving average price is $4.06 and its 200 day moving average price is $54.19.

CDT Equity (NASDAQ:CDT) last issued its earnings results on Wednesday, August 12th. The company reported ($8.71) earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

Several research firms recently commented on CDT. Wall Street Zen raised shares of CDT Equity from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of CDT Equity in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

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.