Short Interest in CDT Equity Inc. (NASDAQ:CDT) Declines By 73.3%

CDT Equity Inc. (NASDAQ:CDT) was the target of a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 74,063 shares, a drop of 73.3% from the January 29th total of 277,728 shares. Approximately 3.5% of the company’s shares are sold short. Based on an average trading volume of 1,708,540 shares, the days-to-cover ratio is presently 0.0 days. Based on an average trading volume of 1,708,540 shares, the days-to-cover ratio is presently 0.0 days. Approximately 3.5% of the company’s shares are sold short.

Institutional Investors Weigh In On CDT Equity

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

CDT Equity Stock Up 0.5%

Shares of NASDAQ:CDT opened at $0.69 on Thursday. The firm has a 50 day moving average of $1.26 and a 200 day moving average of $3.90. The company has a market capitalization of $1.59 million, a price-to-earnings ratio of 0.00 and a beta of 1.80. CDT Equity has a 52 week low of $0.61 and a 52 week high of $168.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CDT Equity in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently 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.