Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Sees Significant Growth in Short Interest

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 223,600 shares, a growth of 385.0% from the January 15th total of 46,100 shares. Based on an average daily volume of 3,030,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Conduit Pharmaceuticals

An institutional investor recently raised its position in Conduit Pharmaceuticals stock. Geode Capital Management LLC lifted its stake in Conduit Pharmaceuticals Inc. (NASDAQ:CDT) by 36.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 584,984 shares of the company’s stock after acquiring an additional 157,307 shares during the period. Geode Capital Management LLC owned approximately 56.79% of Conduit Pharmaceuticals worth $40,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 3.29% of the company’s stock.

Conduit Pharmaceuticals Trading Down 5.8 %

CDT stock traded down $0.10 during midday trading on Thursday, hitting $1.68. 2,449,774 shares of the company traded hands, compared to its average volume of 6,530,797. Conduit Pharmaceuticals has a twelve month low of $1.45 and a twelve month high of $392.00. The business has a 50 day simple moving average of $6.20 and a 200-day simple moving average of $10.42.

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.