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

Conduit Pharmaceuticals Inc. (NASDAQ:CDTGet Free Report) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 55,100 shares, a decrease of 29.2% from the March 15th total of 77,800 shares. Based on an average daily volume of 39,800 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.5% of the shares of the company are sold short.

Conduit Pharmaceuticals Trading Down 0.3 %

Shares of NASDAQ:CDT traded down $0.01 during trading on Friday, reaching $3.18. 2,646 shares of the stock were exchanged, compared to its average volume of 38,034. Conduit Pharmaceuticals has a 12 month low of $0.95 and a 12 month high of $25.00. The stock has a 50-day moving average price of $3.09 and a 200-day moving average price of $3.24.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Barclays PLC bought a new position in Conduit Pharmaceuticals during the 4th quarter worth $3,660,000. Vanguard Group Inc. acquired a new stake in shares of Conduit Pharmaceuticals during the 4th quarter worth $1,075,000. Northern Trust Corp bought a new position in shares of Conduit Pharmaceuticals in the fourth quarter worth $96,000. Finally, Citadel Advisors LLC acquired a new position in Conduit Pharmaceuticals in the fourth quarter valued at about $75,000. Institutional investors own 3.29% of the company’s stock.

About Conduit Pharmaceuticals

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Conduit Pharmaceuticals Inc operates as a clinical stage specialty biopharmaceutical company that provides unmet medical needs in the areas of autoimmune disease and idiopathic male infertility. It's pipeline includes AZD1656 for the treatment of hashimoto's thyroiditis, renal transplant, uveitis, and preterm labor; and AZD5904 for the treatment of idiopathic male infertility.

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