Short Interest in Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Increases By 220.7%

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 4,650,000 shares, an increase of 220.7% from the September 30th total of 1,450,000 shares. Based on an average daily volume of 19,190,000 shares, the days-to-cover ratio is presently 0.2 days.

Conduit Pharmaceuticals Price Performance

Shares of CDT stock traded down $0.01 during trading hours on Friday, reaching $0.11. The company’s stock had a trading volume of 8,864,623 shares, compared to its average volume of 6,913,236. The firm’s fifty day simple moving average is $0.13 and its 200 day simple moving average is $1.22. Conduit Pharmaceuticals has a one year low of $0.10 and a one year high of $7.83.

Conduit Pharmaceuticals (NASDAQ:CDT) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.07) EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Berenberg Bank raised shares of Conduit Pharmaceuticals to a “strong-buy” rating in a report on Friday, July 26th.

Insider Buying and Selling at Conduit Pharmaceuticals

In other news, major shareholder Ltd Nirland sold 1,368,991 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $0.10, for a total value of $136,899.10. Following the completion of the transaction, the insider now directly owns 7,031,009 shares of the company’s stock, valued at $703,100.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 3,658,000 shares of company stock valued at $386,136 over the last three months. 23.49% of the stock is currently owned by insiders.

About Conduit Pharmaceuticals

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.