CDT Equity Inc. (NASDAQ:CDT) Shares Shorted: Short Interest Down 84.1% in September

CDT Equity Inc. (NASDAQ:CDT) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 38,202 shares, a drop 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 presently 0.1 days. Currently, 131.7% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CDT shares. Weiss Ratings restated a “sell (e+)” rating on shares of CDT Equity in a research report on Monday, September 21st. Wall Street Zen raised CDT Equity from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has an average rating of “Sell”.

CDT Equity Trading Down 10.3%

Shares of NASDAQ:CDT opened at $0.72 on Friday. The stock has a market cap of $22,258.00, a PE 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. The stock’s fifty day simple moving average is $32.90 and its two-hundred day simple moving average is $371.53.

CDT Equity (NASDAQ:CDT) last announced its earnings results on Wednesday, August 12th. The company reported ($217.75) earnings per share (EPS) 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.