Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Short Interest Update

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 751,400 shares, a growth of 66.6% from the February 28th total of 451,100 shares. Based on an average daily volume of 3,460,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 105.8% of the shares of the company are short sold.

Institutional Trading of Conduit Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC increased its stake in shares of Conduit Pharmaceuticals by 177.0% during the fourth quarter. Citadel Advisors LLC now owns 526,268 shares of the company’s stock valued at $36,000 after acquiring an additional 336,278 shares during the period. Geode Capital Management LLC increased its position in shares of Conduit Pharmaceuticals by 36.8% during the 4th quarter. Geode Capital Management LLC now owns 584,984 shares of the company’s stock valued at $40,000 after purchasing an additional 157,307 shares during the period. Barclays PLC raised its stake in shares of Conduit Pharmaceuticals by 6.5% in the 4th quarter. Barclays PLC now owns 892,350 shares of the company’s stock worth $61,000 after buying an additional 54,523 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Conduit Pharmaceuticals by 5,034.0% in the fourth quarter. Rhumbline Advisers now owns 1,028,702 shares of the company’s stock valued at $71,000 after buying an additional 1,008,665 shares during the period. 3.29% of the stock is currently owned by institutional investors.

Conduit Pharmaceuticals Stock Performance

CDT opened at $0.89 on Friday. Conduit Pharmaceuticals has a 12 month low of $0.73 and a 12 month high of $379.00. The stock’s 50 day moving average price is $1.90 and its 200 day moving average price is $7.07.

Conduit Pharmaceuticals (NASDAQ:CDT) last issued its quarterly earnings results on Friday, March 28th. The company reported ($20.33) EPS for the quarter.

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.