Short Interest in Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Expands By 35.5%

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,450,000 shares, an increase 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 days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

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

Conduit Pharmaceuticals Price Performance

Shares of CDT stock traded up $0.01 on Friday, reaching $0.12. 270,973,382 shares of the company were exchanged, compared to its average volume of 6,093,263. Conduit Pharmaceuticals has a one year low of $0.10 and a one year high of $7.83. The company has a 50-day moving average of $0.14 and a 200-day moving average of $1.42.

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

Insider Activity

In related news, major shareholder Ltd Nirland sold 939,009 shares of the firm’s stock in a transaction 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 sale, the insider now owns 6,092,000 shares of the company’s stock, valued at approximately $609,200. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a 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 dated 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 transaction, the insider now owns 6,092,000 shares in the company, valued at approximately $609,200. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew Regan sold 1,514,100 shares of Conduit Pharmaceuticals stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $0.26, for a total value of $393,666.00. Following the transaction, the director now owns 177,627 shares of the company’s stock, valued at $46,183.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,177,300 shares of company stock valued at $1,031,102 in the last 90 days. 23.49% of the stock is owned by company insiders.

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.