Short Interest in Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Decreases By 19.8%

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the target of a significant decline in short interest during the month of 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. Approximately 63.5% of the company’s stock are sold short. Based on an average trading volume of 3,410,000 shares, the days-to-cover ratio is currently 0.1 days.

Conduit Pharmaceuticals Stock Performance

NASDAQ CDT traded down $0.11 on Tuesday, hitting $1.01. 207,758 shares of the stock were exchanged, compared to its average volume of 982,811. The business’s fifty day moving average is $3.33 and its 200 day moving average is $7.77. Conduit Pharmaceuticals has a 52 week low of $0.98 and a 52 week high of $392.00.

Institutional Investors Weigh In On Conduit Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of CDT. Citadel Advisors LLC raised its stake in Conduit Pharmaceuticals by 177.0% in the fourth 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 during the period. Barclays PLC raised its stake 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 period. Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 157,307 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Conduit Pharmaceuticals by 5,034.0% during the 4th quarter. Rhumbline Advisers now owns 1,028,702 shares of the company’s stock valued at $71,000 after purchasing an additional 1,008,665 shares during the last quarter. 3.29% of the stock is owned by institutional investors.

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.