Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Short Interest Up 220.7% in October

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 4,650,000 shares, a growth of 220.7% from the September 30th total of 1,450,000 shares. Based on an average trading volume of 19,190,000 shares, the days-to-cover ratio is presently 0.2 days.

Insider Transactions at Conduit Pharmaceuticals

In other news, major shareholder Ltd Nirland sold 1,016,823 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $0.12, for a total value of $122,018.76. Following the transaction, the insider now owns 11,483,177 shares of the company’s stock, valued at $1,377,981.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 3,658,000 shares of company stock worth $386,136 in the last 90 days. 23.49% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Conduit Pharmaceuticals Trading Down 8.3 %

Shares of Conduit Pharmaceuticals stock traded down $0.01 during trading on Friday, reaching $0.11. 8,864,623 shares of the stock traded hands, compared to its average volume of 6,913,236. Conduit Pharmaceuticals has a 52-week low of $0.10 and a 52-week high of $7.83. The business has a fifty day simple moving average of $0.13 and a two-hundred day simple moving average of $1.20.

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

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.