Short Interest in Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Declines By 19.8%

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) saw a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 451,100 shares, a decline of 19.8% from the February 13th total of 562,300 shares. Based on an average trading volume of 3,410,000 shares, the short-interest ratio is presently 0.1 days. Approximately 63.5% of the shares of the stock are short sold.

Conduit Pharmaceuticals Stock Down 11.6 %

Shares of CDT stock traded down $0.11 during trading hours on Wednesday, hitting $0.86. The company’s stock had a trading volume of 746,365 shares, compared to its average volume of 986,902. Conduit Pharmaceuticals has a twelve month low of $0.85 and a twelve month high of $392.00. The business has a fifty day moving average of $3.17 and a 200-day moving average of $7.69.

Hedge Funds Weigh In On Conduit Pharmaceuticals

Several hedge funds have recently bought and sold shares of CDT. Rhumbline Advisers increased its position in Conduit Pharmaceuticals by 5,034.0% during the 4th quarter. Rhumbline Advisers now owns 1,028,702 shares of the company’s stock worth $71,000 after purchasing an additional 1,008,665 shares in the last quarter. Barclays PLC grew its holdings in shares of Conduit Pharmaceuticals by 6.5% during the fourth quarter. Barclays PLC now owns 892,350 shares of the company’s stock worth $61,000 after buying an additional 54,523 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Conduit Pharmaceuticals by 36.8% in the fourth quarter. Geode Capital Management LLC now owns 584,984 shares of the company’s stock valued at $40,000 after buying an additional 157,307 shares during the last quarter. Finally, Citadel Advisors LLC raised its position in shares of Conduit Pharmaceuticals by 177.0% in the fourth quarter. Citadel Advisors LLC now owns 526,268 shares of the company’s stock valued at $36,000 after buying an additional 336,278 shares during the last quarter. Hedge funds and other institutional investors own 3.29% of the company’s stock.

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.