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

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the recipient of a large 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 short-interest ratio is currently 0.2 days.

Conduit Pharmaceuticals Trading Down 4.3 %

NASDAQ CDT traded down $0.01 during trading hours on Friday, reaching $0.12. The company had a trading volume of 7,235,032 shares, compared to its average volume of 6,906,847. Conduit Pharmaceuticals has a 1-year low of $0.10 and a 1-year high of $7.83. The stock has a 50-day moving average of $0.13 and a 200 day moving average of $1.25.

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

Insider Buying and Selling

In related news, major shareholder Ltd Nirland sold 939,009 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $0.10, for a total transaction of $93,900.90. Following the completion of the sale, the insider now directly owns 6,092,000 shares in the company, valued at approximately $609,200. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 3,658,000 shares of company stock worth $386,136 in the last 90 days. Insiders own 23.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.