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

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the recipient of a large growth in short interest during 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 trading volume, of 3,030,000 shares, the short-interest ratio is presently 0.1 days.

Conduit Pharmaceuticals Trading Up 1.7 %

Shares of Conduit Pharmaceuticals stock traded up $0.03 on Wednesday, reaching $1.80. 538,912 shares of the company were exchanged, compared to its average volume of 6,674,550. Conduit Pharmaceuticals has a one year low of $1.45 and a one year high of $392.00. The company has a 50-day moving average of $6.36 and a 200 day moving average of $10.48.

Institutional Trading of Conduit Pharmaceuticals

A hedge fund recently raised its stake in Conduit Pharmaceuticals stock. Rhumbline Advisers grew its stake in shares of Conduit Pharmaceuticals Inc. (NASDAQ:CDT) by 5,034.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,028,702 shares of the company’s stock after acquiring an additional 1,008,665 shares during the period. Rhumbline Advisers owned 1.00% of Conduit Pharmaceuticals worth $71,000 at the end of the most recent quarter. 3.29% of the stock is owned by institutional investors.

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.