CDT Equity (NASDAQ:CDT) Trading Down 5.8% – Here’s Why

CDT Equity Inc. (NASDAQ:CDT)’s share price was down 5.8% during mid-day trading on Wednesday . The company traded as low as $2.78 and last traded at $2.90. Approximately 78,538 shares were traded during trading, a decline of 88% from the average daily volume of 654,709 shares. The stock had previously closed at $3.08.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CDT Equity in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

CDT Equity Trading Down 5.8%

The stock’s fifty day moving average price is $6.34 and its two-hundred day moving average price is $23.24. The firm has a market capitalization of $3.92 million, a price-to-earnings ratio of 0.00 and a beta of 1.81.

CDT Equity (NASDAQ:CDT) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($43.68) earnings per share for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in CDT Equity stock. Apollon Wealth Management LLC bought a new stake in CDT Equity Inc. (NASDAQ:CDT) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 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 reporting period. 3.29% of the stock is currently owned by hedge funds and other institutional investors.

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.