Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Short Interest Update

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 223,600 shares, a growth of 385.0% from the January 15th total of 46,100 shares. Based on an average trading volume of 3,030,000 shares, the days-to-cover ratio is presently 0.1 days.

Conduit Pharmaceuticals Price Performance

Shares of Conduit Pharmaceuticals stock traded up $0.03 during trading on Wednesday, reaching $1.80. 538,912 shares of the company’s stock were exchanged, compared to its average volume of 6,674,550. Conduit Pharmaceuticals has a 1-year low of $1.45 and a 1-year high of $392.00. The firm’s 50-day moving average price is $6.36 and its 200 day moving average price is $10.48.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Conduit Pharmaceuticals stock. Rhumbline Advisers lifted its position in shares of Conduit Pharmaceuticals Inc. (NASDAQ:CDT) by 5,034.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,028,702 shares of the company’s stock after purchasing an additional 1,008,665 shares during the period. Rhumbline Advisers owned about 1.00% of Conduit Pharmaceuticals worth $71,000 as of its most recent filing with the Securities and Exchange Commission. 3.29% of the stock is currently owned by institutional investors and hedge funds.

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.