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

CDT Equity Inc. (NASDAQ:CDT) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 107,600 shares, a drop of 31.2% from the August 15th total of 156,300 shares. Based on an average daily volume of 865,500 shares, the short-interest ratio is presently 0.1 days. Currently, 3.8% of the company’s stock are short sold. Currently, 3.8% of the company’s stock are short sold. Based on an average daily volume of 865,500 shares, the short-interest ratio is presently 0.1 days.

CDT Equity Price Performance

CDT stock opened at $0.64 on Wednesday. The stock has a market capitalization of $1.96 million, a P/E ratio of 0.00 and a beta of 1.92. CDT Equity has a 1-year low of $0.57 and a 1-year high of $274.80. The business has a fifty day moving average price of $1.64 and a 200-day moving average price of $5.73.

CDT Equity (NASDAQ:CDT) last released its quarterly earnings data on Thursday, August 14th. The company reported ($5.46) EPS for the quarter.

Institutional Trading of CDT Equity

A hedge fund recently raised its stake in CDT Equity stock. Citadel Advisors LLC boosted its stake in shares of CDT Equity Inc. (NASDAQ:CDT) by 177.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 526,268 shares of the company’s stock after purchasing an additional 336,278 shares during the period. Citadel Advisors LLC owned about 51.09% of CDT Equity worth $36,000 at the end of the most recent quarter. 3.29% of the stock is currently owned by institutional investors.

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.