Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Short Interest Down 33.9% in November

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 2,360,000 shares, a decline of 33.9% from the October 31st total of 3,570,000 shares. Based on an average trading volume of 22,220,000 shares, the days-to-cover ratio is presently 0.1 days.

Conduit Pharmaceuticals Stock Up 6.0 %

CDT stock opened at $0.10 on Friday. Conduit Pharmaceuticals has a 12 month low of $0.08 and a 12 month high of $7.83. The firm’s fifty day simple moving average is $0.11 and its 200-day simple moving average is $0.72.

Insiders Place Their Bets

In related news, major shareholder Ltd Nirland sold 333,177 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $0.10, for a total value of $33,317.70. Following the transaction, the insider now owns 9,900,000 shares in the company, valued at approximately $990,000. This represents a 3.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 3,658,000 shares of company stock valued at $386,136. 34.74% of the stock is owned by company insiders.

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.