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

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) saw a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 562,300 shares, an increase of 151.5% from the January 31st total of 223,600 shares. Based on an average daily volume of 3,240,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC increased its stake in shares of Conduit Pharmaceuticals by 177.0% in the 4th 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 in the last quarter. Geode Capital Management LLC increased its stake in Conduit Pharmaceuticals by 36.8% in the fourth 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 in the last quarter. Barclays PLC boosted its position in shares of Conduit Pharmaceuticals by 6.5% during the 4th quarter. Barclays PLC now owns 892,350 shares of the company’s stock worth $61,000 after purchasing an additional 54,523 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Conduit Pharmaceuticals by 5,034.0% in the 4th 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 owned by institutional investors.

Conduit Pharmaceuticals Stock Performance

Shares of NASDAQ CDT opened at $1.20 on Friday. Conduit Pharmaceuticals has a 52-week low of $1.09 and a 52-week high of $392.00. The company’s 50 day moving average price is $4.54 and its 200-day moving average price is $8.93.

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.