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

CDT Equity Inc. (NASDAQ:CDT) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 38,202 shares, a decline 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. Currently, 131.7% of the company’s shares are short sold.

Analysts Set New Price Targets

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

CDT Equity Trading Down 10.3%

Shares of CDT opened at $0.72 on Friday. The company’s fifty day simple moving average is $32.90 and its 200 day simple moving average is $371.53. The company has a market cap of $22,258.00, a price-to-earnings ratio of -0.00 and a beta of 1.59. CDT Equity has a 1-year low of $0.70 and a 1-year high of $28,390.00.

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.