CDT Equity Inc. (NASDAQ:CDT) Sees Significant Decrease in Short Interest

CDT Equity Inc. (NASDAQ:CDT) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 129,934 shares, a decrease of 26.9% from the February 26th total of 177,766 shares. Approximately 6.3% of the company’s shares are short sold. Based on an average trading volume of 107,627 shares, the short-interest ratio is currently 1.2 days.

Institutional Trading of CDT Equity

An institutional investor recently bought a new position in CDT Equity stock. Apollon Wealth Management LLC purchased a new stake in CDT Equity Inc. (NASDAQ:CDT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 107,454 shares of the company’s stock, valued at approximately $73,000. Apollon Wealth Management LLC owned 28.28% of CDT Equity as of its most recent filing with the Securities & Exchange Commission. 3.29% of the stock is owned by hedge funds and other institutional investors.

CDT Equity Price Performance

Shares of NASDAQ:CDT opened at $9.35 on Tuesday. The firm has a market capitalization of $841,500.00, a PE ratio of 0.00 and a beta of 1.84. The business has a 50-day moving average of $20.92 and a two-hundred day moving average of $54.47. CDT Equity has a 12 month low of $7.45 and a 12 month high of $4,200.00.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CDT Equity in a research note on Friday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

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.