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

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

Conduit Pharmaceuticals Stock Down 7.9 %

Shares of NASDAQ:CDT traded down $0.07 on Monday, hitting $0.82. The stock had a trading volume of 6,587,897 shares, compared to its average volume of 1,045,319. The firm’s 50 day moving average price is $1.90 and its 200-day moving average price is $7.02. Conduit Pharmaceuticals has a twelve month low of $0.73 and a twelve month high of $379.00.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in shares of Conduit Pharmaceuticals by 5,034.0% during the fourth quarter. Rhumbline Advisers now owns 1,028,702 shares of the company’s stock valued at $71,000 after acquiring an additional 1,008,665 shares during the period. Citadel Advisors LLC raised its position in shares of Conduit Pharmaceuticals by 177.0% during the 4th quarter. Citadel Advisors LLC now owns 526,268 shares of the company’s stock valued at $36,000 after acquiring an additional 336,278 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 purchasing an additional 157,307 shares during the period. Finally, Barclays PLC boosted its position 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. Institutional investors own 3.29% of the company’s stock.

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.