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

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

Institutional Trading of Conduit Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of CDT. Citadel Advisors LLC lifted its holdings in Conduit Pharmaceuticals by 177.0% in the fourth quarter. Citadel Advisors LLC now owns 526,268 shares of the company’s stock worth $36,000 after acquiring an additional 336,278 shares during the last quarter. Barclays PLC lifted its holdings 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 purchasing an additional 54,523 shares during the last quarter. Geode Capital Management LLC boosted its position in 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. Finally, Rhumbline Advisers grew its stake in Conduit Pharmaceuticals by 5,034.0% during the 4th quarter. Rhumbline Advisers now owns 1,028,702 shares of the company’s stock worth $71,000 after buying an additional 1,008,665 shares during the last quarter. 3.29% of the stock is owned by institutional investors.

Conduit Pharmaceuticals Price Performance

Shares of CDT opened at $0.89 on Friday. Conduit Pharmaceuticals has a one year low of $0.73 and a one year high of $379.00. The stock has a 50-day moving average price of $1.90 and a 200 day moving average price of $7.07.

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

Conduit Pharmaceuticals Company Profile

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.