Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Short Interest Up 126.0% in July

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,400,000 shares, an increase of 126.0% from the July 15th total of 619,400 shares. Currently, 13.5% of the company’s shares are sold short. Based on an average daily trading volume, of 8,980,000 shares, the short-interest ratio is currently 0.2 days.

Conduit Pharmaceuticals Trading Up 8.1 %

Shares of CDT stock traded up $0.01 during trading hours on Wednesday, hitting $0.15. 81,159,499 shares of the company’s stock were exchanged, compared to its average volume of 4,517,812. Conduit Pharmaceuticals has a 12-month low of $0.13 and a 12-month high of $25.00. The business’s 50 day simple moving average is $0.88 and its 200-day simple moving average is $2.29.

Conduit Pharmaceuticals (NASDAQ:CDT) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.07) EPS for the quarter.

Analyst Ratings Changes

Separately, Berenberg Bank upgraded shares of 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.