Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Sees Large Increase in Short Interest

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 11,570,000 shares, a growth of 646.5% from the November 30th total of 1,550,000 shares. Based on an average trading volume of 25,630,000 shares, the short-interest ratio is currently 0.5 days.

Insider Buying and Selling

In other Conduit Pharmaceuticals news, major shareholder Ltd Nirland sold 939,009 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $0.10, for a total value of $93,900.90. Following the completion of the transaction, the insider now directly owns 6,092,000 shares of the company’s stock, valued at $609,200. This represents a 13.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 3,658,000 shares of company stock valued at $386,136. Corporate insiders own 30.93% of the company’s stock.

Conduit Pharmaceuticals Trading Down 1.5 %

NASDAQ CDT traded down $0.00 on Thursday, hitting $0.06. 7,913,974 shares of the stock traded hands, compared to its average volume of 10,052,146. The stock has a 50-day moving average of $0.09 and a 200 day moving average of $0.32. Conduit Pharmaceuticals has a twelve month low of $0.05 and a twelve month high of $5.44.

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.