Short Interest in Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Decreases By 66.7%

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,270,000 shares, a decline of 66.7% from the August 15th total of 6,810,000 shares. Based on an average daily trading volume, of 12,470,000 shares, the short-interest ratio is currently 0.2 days.

Conduit Pharmaceuticals Stock Performance

Shares of NASDAQ CDT remained flat at $0.13 during mid-day trading on Friday. 2,803,346 shares of the stock were exchanged, compared to its average volume of 4,627,282. Conduit Pharmaceuticals has a one year low of $0.11 and a one year high of $25.00. The firm’s fifty day moving average is $0.20 and its 200-day moving average is $1.85.

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

Analyst Upgrades and Downgrades

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

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.