Short Interest in Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Declines By 19.8%

Conduit Pharmaceuticals Inc. (NASDAQ:CDTGet Free Report) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 451,100 shares, a decline of 19.8% from the February 13th total of 562,300 shares. Approximately 63.5% of the shares of the company are sold short. Based on an average trading volume of 3,410,000 shares, the days-to-cover ratio is currently 0.1 days.

Conduit Pharmaceuticals Trading Down 9.5 %

Shares of CDT stock traded down $0.11 during trading on Tuesday, hitting $1.01. The company had a trading volume of 207,758 shares, compared to its average volume of 982,811. Conduit Pharmaceuticals has a one year low of $0.98 and a one year high of $392.00. The stock’s 50-day moving average price is $3.33 and its 200 day moving average price is $7.77.

Institutional Trading of Conduit Pharmaceuticals

A number of institutional investors have recently modified their holdings of CDT. Rhumbline Advisers raised its stake in Conduit Pharmaceuticals by 5,034.0% in the fourth quarter. Rhumbline Advisers now owns 1,028,702 shares of the company’s stock valued at $71,000 after purchasing an additional 1,008,665 shares in the last quarter. Citadel Advisors LLC increased its holdings in 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 buying an additional 336,278 shares during the period. Geode Capital Management LLC raised its position in shares of Conduit Pharmaceuticals by 36.8% in the 4th quarter. Geode Capital Management LLC now owns 584,984 shares of the company’s stock valued at $40,000 after buying an additional 157,307 shares in the last quarter. Finally, Barclays PLC lifted its holdings 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 acquiring an additional 54,523 shares during the period. 3.29% of the stock is currently owned by institutional investors.

Conduit Pharmaceuticals Company Profile

(Get Free Report)

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.

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