CDT Equity Stock to Reverse Split on Tuesday, September 29th (NASDAQ:CDT)

Shares of CDT Equity Inc. (NASDAQ:CDT) are going to reverse split before the market opens on Tuesday, September 29th. The 1-25 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, September 28th.

CDT Equity Stock Down 33.9%

Shares of CDT traded down $0.04 during mid-day trading on Friday, hitting $0.08. 25,908,804 shares of the company’s stock were exchanged, compared to its average volume of 6,776,378. CDT Equity has a 52 week low of $0.08 and a 52 week high of $1,778.00. The stock’s 50-day simple moving average is $1.93 and its 200-day simple moving average is $24.26.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen raised CDT Equity from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of CDT Equity in a report on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

CDT Equity Company Profile

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.