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

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

Hedge Funds Weigh In On CDT Equity

A hedge fund recently bought a new stake in CDT Equity stock. Great Lakes Advisors LLC purchased a new position in shares of CDT Equity Inc. (NASDAQ:CDT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 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. 3.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen raised CDT Equity from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CDT Equity in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

CDT Equity Stock Up 8.2%

CDT traded up $0.24 during midday trading on Thursday, reaching $3.17. 32,105 shares of the company’s stock were exchanged, compared to its average volume of 297,940. The business has a 50-day simple moving average of $5.33 and a two-hundred day simple moving average of $76.35. The firm has a market capitalization of $2.00 million, a price-to-earnings ratio of -0.00 and a beta of 1.52. CDT Equity has a one year low of $2.53 and a one year high of $3,600.00.

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

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.