Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Short Interest Up 646.5% in December

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the recipient of a large increase in short interest during 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 short-interest ratio is presently 0.5 days.

Conduit Pharmaceuticals Stock Performance

CDT stock traded up $0.00 during midday trading on Friday, reaching $0.06. The stock had a trading volume of 14,594,559 shares, compared to its average volume of 10,071,572. The firm has a fifty day simple moving average of $0.09 and a two-hundred day simple moving average of $0.30. Conduit Pharmaceuticals has a 52-week low of $0.05 and a 52-week high of $5.29.

Insider Transactions at Conduit Pharmaceuticals

In other Conduit Pharmaceuticals news, major shareholder Ltd Nirland sold 333,177 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $0.10, for a total value of $33,317.70. Following the completion of the transaction, the insider now owns 9,900,000 shares of the company’s stock, valued at approximately $990,000. This trade represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 3,658,000 shares of company stock valued at $386,136 in the last 90 days. Insiders own 30.93% of the company’s stock.

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.