Short Interest in Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Declines By 52.9%

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 1,070,000 shares, a decrease of 52.9% from the August 31st total of 2,270,000 shares. Based on an average trading volume of 12,710,000 shares, the short-interest ratio is presently 0.1 days.

Insider Buying and Selling

In other Conduit Pharmaceuticals news, Director Andrew Regan sold 1,389,820 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $0.25, for a total value of $347,455.00. Following the sale, the director now owns 12,941,319 shares of the company’s stock, valued at $3,235,329.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 4,096,043 shares of company stock worth $1,060,882 in the last quarter. Company insiders own 23.49% of the company’s stock.

Conduit Pharmaceuticals Stock Performance

Shares of NASDAQ CDT traded down $0.00 during midday trading on Thursday, reaching $0.13. 1,453,132 shares of the stock were exchanged, compared to its average volume of 4,488,371. Conduit Pharmaceuticals has a 52-week low of $0.11 and a 52-week high of $8.75. The stock has a 50 day moving average price of $0.17 and a 200-day moving average price of $1.71.

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

Wall Street Analysts Forecast Growth

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

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.