Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Short Interest Up 35.5% in September

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 1,450,000 shares, a growth of 35.5% from the September 15th total of 1,070,000 shares. Based on an average daily volume of 14,080,000 shares, the short-interest ratio is currently 0.1 days.

Conduit Pharmaceuticals Price Performance

Shares of NASDAQ CDT traded down $0.01 during mid-day trading on Tuesday, hitting $0.10. The company had a trading volume of 7,771,986 shares, compared to its average volume of 6,136,514. The stock’s 50-day moving average price is $0.14 and its 200-day moving average price is $1.39. Conduit Pharmaceuticals has a 1 year low of $0.10 and a 1 year high of $7.83.

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

Analyst Ratings Changes

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

Insider Activity at Conduit Pharmaceuticals

In related news, major shareholder Ltd Nirland sold 939,009 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $0.10, for a total transaction of $93,900.90. Following the completion of the sale, the insider now directly owns 6,092,000 shares of the company’s stock, valued at approximately $609,200. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Ltd Nirland sold 939,009 shares of Conduit Pharmaceuticals stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $0.10, for a total value of $93,900.90. Following the sale, the insider now owns 6,092,000 shares of the company’s stock, valued at approximately $609,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Regan sold 1,514,100 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $0.26, for a total value of $393,666.00. Following the transaction, the director now directly owns 177,627 shares of the company’s stock, valued at approximately $46,183.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,172,100 shares of company stock valued at $779,802 over the last ninety days. Corporate insiders own 23.49% of the company’s stock.

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.