Short Interest in Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Grows By 35.5%

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 trading volume, of 14,080,000 shares, the short-interest ratio is currently 0.1 days.

Insider Buying and Selling at Conduit Pharmaceuticals

In other Conduit Pharmaceuticals news, major shareholder Ltd Nirland sold 1,016,823 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $0.12, for a total transaction of $122,018.76. Following the completion of the sale, the insider now owns 11,483,177 shares of the company’s stock, valued at approximately $1,377,981.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Conduit Pharmaceuticals news, major shareholder Ltd Nirland sold 1,016,823 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $0.12, for a total transaction of $122,018.76. Following the completion of the sale, the insider now directly owns 11,483,177 shares in the company, valued at approximately $1,377,981.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the director now directly owns 177,627 shares of the company’s stock, valued at approximately $46,183.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,172,100 shares of company stock worth $779,802. Insiders own 23.49% of the company’s stock.

Conduit Pharmaceuticals Price Performance

Shares of NASDAQ:CDT traded down $0.01 during trading on Tuesday, reaching $0.10. 7,771,986 shares of the stock were exchanged, compared to its average volume of 6,136,514. Conduit Pharmaceuticals has a 1-year low of $0.10 and a 1-year high of $7.83. The stock has a fifty day moving average of $0.14 and a two-hundred day moving average of $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.

Wall Street Analyst Weigh In

Separately, Berenberg Bank upgraded Conduit Pharmaceuticals to a “strong-buy” rating in a research note 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.