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

CDT Equity Inc. (NASDAQ:CDT) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 210,800 shares, a growth of 95.9% from the August 31st total of 107,600 shares. Based on an average trading volume of 4,070,000 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 4,070,000 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of CDT Equity

A hedge fund recently raised its stake in CDT Equity stock. Citadel Advisors LLC boosted its holdings in shares of CDT Equity Inc. (NASDAQ:CDT) by 177.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 526,268 shares of the company’s stock after purchasing an additional 336,278 shares during the period. Citadel Advisors LLC owned approximately 51.09% of CDT Equity worth $36,000 at the end of the most recent quarter. Institutional investors own 3.29% of the company’s stock.

CDT Equity Price Performance

Shares of CDT opened at $0.68 on Monday. The company has a market cap of $2.07 million, a P/E ratio of 0.00 and a beta of 1.81. The stock has a fifty day moving average price of $1.25 and a 200 day moving average price of $4.28. CDT Equity has a 12 month low of $0.57 and a 12 month high of $274.80.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CDT Equity in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, CDT Equity currently has an average rating of “Sell”.

CDT Equity Company Profile

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.