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

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) saw a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 3,750,000 shares, a drop of 67.6% from the December 31st total of 11,570,000 shares. Based on an average daily volume of 52,100,000 shares, the days-to-cover ratio is presently 0.1 days.

Conduit Pharmaceuticals Stock Performance

NASDAQ:CDT traded down $0.23 during midday trading on Tuesday, reaching $3.07. The stock had a trading volume of 4,665,933 shares, compared to its average volume of 1,508,507. The firm’s fifty day simple moving average is $8.03 and its 200-day simple moving average is $12.25. Conduit Pharmaceuticals has a 1-year low of $2.94 and a 1-year high of $392.00.

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.