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

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 11,570,000 shares, an increase of 646.5% from the November 30th total of 1,550,000 shares. Based on an average daily trading volume, of 25,630,000 shares, the days-to-cover ratio is currently 0.5 days.

Conduit Pharmaceuticals Stock Up 3.3 %

CDT stock traded up $0.00 during midday trading on Friday, hitting $0.06. 14,594,559 shares of the stock traded hands, compared to its average volume of 10,071,572. Conduit Pharmaceuticals has a 1-year low of $0.05 and a 1-year high of $5.29. The stock’s fifty day simple moving average is $0.09 and its 200-day simple moving average is $0.30.

Insider Activity

In other news, major shareholder Ltd Nirland sold 333,177 shares of Conduit Pharmaceuticals stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $0.10, for a total transaction of $33,317.70. Following the completion of the transaction, the insider now directly owns 9,900,000 shares of the company’s stock, valued at $990,000. The trade was a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 3,658,000 shares of company stock valued at $386,136 in the last quarter. 30.93% of the stock is currently 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.