Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Short Interest Up 66.6% in March

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 751,400 shares, a growth of 66.6% from the February 28th total of 451,100 shares. Based on an average daily trading volume, of 3,460,000 shares, the short-interest ratio is presently 0.2 days. Approximately 105.8% of the company’s shares are short sold.

Conduit Pharmaceuticals Price Performance

Conduit Pharmaceuticals stock traded up $0.12 during midday trading on Friday, reaching $0.89. The stock had a trading volume of 5,312,230 shares, compared to its average volume of 1,022,851. The stock’s 50-day simple moving average is $1.90 and its 200 day simple moving average is $7.12. Conduit Pharmaceuticals has a twelve month low of $0.73 and a twelve month high of $379.00.

Conduit Pharmaceuticals (NASDAQ:CDT) last posted its earnings results on Friday, March 28th. The company reported ($20.33) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Conduit Pharmaceuticals

A number of hedge funds have recently made changes to their positions in CDT. Citadel Advisors LLC boosted its position in Conduit Pharmaceuticals by 177.0% during the 4th quarter. Citadel Advisors LLC now owns 526,268 shares of the company’s stock worth $36,000 after purchasing an additional 336,278 shares during the period. Geode Capital Management LLC lifted its stake in shares of Conduit Pharmaceuticals by 36.8% during the fourth quarter. Geode Capital Management LLC now owns 584,984 shares of the company’s stock worth $40,000 after purchasing an additional 157,307 shares in the last quarter. Barclays PLC lifted its stake 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 purchasing an additional 54,523 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Conduit Pharmaceuticals by 5,034.0% in the fourth quarter. Rhumbline Advisers now owns 1,028,702 shares of the company’s stock worth $71,000 after buying an additional 1,008,665 shares during the period. Hedge funds and other institutional investors own 3.29% 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.