CDT Equity Inc. (NASDAQ:CDT) Short Interest Down 90.2% in July

CDT Equity Inc. (NASDAQ:CDT) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 18,200 shares, a decrease of 90.2% from the July 15th total of 185,331 shares. Approximately 3.2% of the company’s shares are sold short. Based on an average daily volume of 79,116 shares, the short-interest ratio is currently 0.2 days.

CDT Equity Price Performance

Shares of CDT Equity stock traded down $0.08 during trading hours on Tuesday, hitting $3.03. 21,728 shares of the company’s stock traded hands, compared to its average volume of 301,568. CDT Equity has a 12-month low of $2.53 and a 12-month high of $3,700.00. The stock has a market capitalization of $1.91 million, a price-to-earnings ratio of -0.00 and a beta of 1.52. The company has a fifty day simple moving average of $5.54 and a 200-day simple moving average of $81.31.

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

Wall Street Analyst Weigh In

CDT has been the subject of several research analyst reports. 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 equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Trading of CDT Equity

A hedge fund recently bought a new stake in CDT Equity stock. Great Lakes Advisors LLC purchased a new position in CDT Equity Inc. (NASDAQ:CDT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,631 shares of the company’s stock, valued at approximately $991,000. Great Lakes Advisors LLC owned 2.96% of CDT Equity at the end of the most recent reporting period. 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.