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

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,450,000 shares, a growth of 35.5% from the September 15th total of 1,070,000 shares. Based on an average daily volume of 14,080,000 shares, the days-to-cover ratio is currently 0.1 days.

Insider Activity at Conduit Pharmaceuticals

In related news, major shareholder Ltd Nirland sold 333,177 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $0.10, for a total transaction of $33,317.70. Following the transaction, the insider now owns 9,900,000 shares of the company’s stock, valued at approximately $990,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Conduit Pharmaceuticals news, Director Andrew Regan sold 1,514,100 shares of Conduit Pharmaceuticals stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $0.26, for a total value of $393,666.00. Following the completion of the sale, the director now owns 177,627 shares in the company, valued at $46,183.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ltd Nirland sold 333,177 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $0.10, for a total transaction of $33,317.70. Following the transaction, the insider now directly owns 9,900,000 shares of the company’s stock, valued at approximately $990,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,172,100 shares of company stock valued at $779,802. 23.49% of the stock is owned by insiders.

Conduit Pharmaceuticals Price Performance

Shares of CDT traded down $0.00 during mid-day trading on Tuesday, hitting $0.11. The stock had a trading volume of 1,903,171 shares, compared to its average volume of 6,107,022. Conduit Pharmaceuticals has a fifty-two week low of $0.10 and a fifty-two week high of $7.83. The company’s fifty day simple moving average is $0.14 and its two-hundred day simple moving average is $1.39.

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

Analysts Set New Price Targets

Separately, Berenberg Bank raised shares of Conduit Pharmaceuticals to a “strong-buy” rating in a research 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.