CDT Equity Shares Scheduled to Reverse Split on Tuesday, September 29th (NASDAQ:CDT)

Shares of CDT Equity Inc. (NASDAQ:CDT) are set to reverse split on the morning of Tuesday, September 29th. The 1-25 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, September 28th.

CDT Equity Stock Performance

CDT Equity stock traded down $0.04 during midday trading on Friday, reaching $0.08. The stock had a trading volume of 25,908,804 shares, compared to its average volume of 6,776,378. CDT Equity has a 12 month low of $0.08 and a 12 month high of $1,778.00. The company has a fifty day moving average price of $1.93 and a two-hundred day moving average price of $24.26.

CDT Equity (NASDAQ:CDT) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($8.71) earnings per share for the quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CDT shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CDT Equity in a research report on Monday. Wall Street Zen raised shares of CDT Equity from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

About CDT Equity

CDT Equity, Inc, traded on the Nasdaq under the symbol CDT, is associated with Conduit Pharmaceuticals, a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune and inflammatory diseases.

The company’s business model centers on acquiring and advancing clinical-stage drug candidates through partnerships with academic institutions and pharmaceutical companies. Its portfolio has included investigational therapies intended to address conditions such as systemic sclerosis and other immune-mediated diseases, although the status and composition of its development programs may change as clinical and corporate activities progress.

Conduit Pharmaceuticals was established to help translate externally developed drug candidates into commercial medicines.