Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Short Interest Down 93.9% in May

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 51,000 shares, a drop of 93.9% from the April 30th total of 841,100 shares. Based on an average daily volume of 203,300 shares, the short-interest ratio is currently 0.3 days. Approximately 7.2% of the shares of the stock are sold short.

Conduit Pharmaceuticals Price Performance

Shares of CDT stock opened at $3.88 on Thursday. The company has a market capitalization of $3.09 million, a price-to-earnings ratio of -0.01 and a beta of 2.39. Conduit Pharmaceuticals has a one year low of $3.25 and a one year high of $4,710.00. The company’s fifty day moving average price is $8.60 and its 200-day moving average price is $56.35.

Conduit Pharmaceuticals (NASDAQ:CDT) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($19.80) EPS for the quarter.

Institutional Trading of Conduit Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of CDT. Rhumbline Advisers increased its holdings in Conduit Pharmaceuticals by 5,034.0% in the 4th quarter. Rhumbline Advisers now owns 1,028,702 shares of the company’s stock valued at $71,000 after acquiring an additional 1,008,665 shares during the last quarter. Geode Capital Management LLC increased its holdings in Conduit Pharmaceuticals by 36.8% in the 4th quarter. Geode Capital Management LLC now owns 584,984 shares of the company’s stock valued at $40,000 after acquiring an additional 157,307 shares during the last quarter. Barclays PLC increased its holdings in Conduit Pharmaceuticals by 6.5% in the 4th quarter. Barclays PLC now owns 892,350 shares of the company’s stock valued at $61,000 after acquiring an additional 54,523 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in Conduit Pharmaceuticals by 177.0% in the 4th quarter. Citadel Advisors LLC now owns 526,268 shares of the company’s stock valued at $36,000 after acquiring an additional 336,278 shares during the last quarter. 3.29% of the stock is currently owned by institutional investors.

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.