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

CDT Equity Inc. (NASDAQ:CDT) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 239,903 shares, an increase of 467.9% from the August 31st total of 42,243 shares. Based on an average trading volume of 6,870,827 shares, the short-interest ratio is presently 0.0 days. Currently, 32.9% of the shares of the company are short sold.

Wall Street Analyst Weigh In

CDT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of CDT Equity from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Weiss Ratings restated a “sell (e+)” rating on shares of CDT Equity in a research note on Monday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, CDT Equity presently has a consensus rating of “Sell”.

CDT Equity Price Performance

NASDAQ:CDT opened at $0.12 on Friday. CDT Equity has a 1 year low of $0.12 and a 1 year high of $1,778.00. The stock’s 50 day simple moving average is $1.99 and its two-hundred day simple moving average is $24.43. The company has a market cap of $95,590.00, a price-to-earnings ratio of -0.00 and a beta of 1.48.

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

About CDT Equity

CDT Equity, Inc, traded on the Nasdaq under the symbol CDT, is associated with Conduit Pharmaceuticals, a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune and inflammatory diseases.

The company’s business model centers on acquiring and advancing clinical-stage drug candidates through partnerships with academic institutions and pharmaceutical companies. Its portfolio has included investigational therapies intended to address conditions such as systemic sclerosis and other immune-mediated diseases, although the status and composition of its development programs may change as clinical and corporate activities progress.

Conduit Pharmaceuticals was established to help translate externally developed drug candidates into commercial medicines.