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

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 451,100 shares, a decline of 19.8% from the February 13th total of 562,300 shares. Currently, 63.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,410,000 shares, the days-to-cover ratio is currently 0.1 days.

Conduit Pharmaceuticals Trading Up 7.9 %

Shares of CDT stock opened at $1.09 on Monday. Conduit Pharmaceuticals has a 52 week low of $0.98 and a 52 week high of $392.00. The company’s fifty day simple moving average is $3.46 and its two-hundred day simple moving average is $7.86.

Institutional Trading of Conduit Pharmaceuticals

Several hedge funds have recently bought and sold shares of CDT. Rhumbline Advisers lifted its stake in Conduit Pharmaceuticals by 5,034.0% in the 4th quarter. Rhumbline Advisers now owns 1,028,702 shares of the company’s stock worth $71,000 after purchasing an additional 1,008,665 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Conduit Pharmaceuticals by 36.8% during the 4th quarter. Geode Capital Management LLC now owns 584,984 shares of the company’s stock valued at $40,000 after buying an additional 157,307 shares in the last quarter. Barclays PLC raised its position in shares of Conduit Pharmaceuticals by 6.5% during the 4th quarter. Barclays PLC now owns 892,350 shares of the company’s stock valued at $61,000 after buying an additional 54,523 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in shares of Conduit Pharmaceuticals by 177.0% during the 4th quarter. Citadel Advisors LLC now owns 526,268 shares of the company’s stock valued at $36,000 after buying an additional 336,278 shares in the last quarter. 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.