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

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 56,800 shares, a growth of 72.6% from the May 31st total of 32,900 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 44,100 shares, the short-interest ratio is currently 1.3 days.

Conduit Pharmaceuticals Stock Performance

CDT traded up $0.04 during trading on Friday, hitting $1.06. 2,478,071 shares of the company traded hands, compared to its average volume of 66,344. The stock’s 50-day simple moving average is $2.60 and its two-hundred day simple moving average is $3.26. Conduit Pharmaceuticals has a 1 year low of $0.63 and a 1 year high of $25.00.

Conduit Pharmaceuticals (NASDAQ:CDT) last posted its earnings results on Tuesday, May 14th. The company reported ($0.05) earnings per share for the quarter.

About Conduit Pharmaceuticals

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.