Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Sees Significant Decline in Short Interest

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,270,000 shares, a decrease of 66.7% from the August 15th total of 6,810,000 shares. Based on an average daily trading volume, of 12,470,000 shares, the short-interest ratio is presently 0.2 days.

Conduit Pharmaceuticals Stock Down 2.8 %

NASDAQ CDT traded down $0.00 during trading on Friday, hitting $0.13. The company had a trading volume of 2,549,209 shares, compared to its average volume of 4,626,752. Conduit Pharmaceuticals has a one year low of $0.11 and a one year high of $25.00. The company’s fifty day moving average is $0.20 and its 200-day moving average is $1.88.

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

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank raised shares of Conduit Pharmaceuticals to a “strong-buy” rating in a research report on Friday, July 26th.

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.