Short Interest in Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Rises By 386.4%

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 6,810,000 shares, an increase of 386.4% from the July 31st total of 1,400,000 shares. Based on an average daily trading volume, of 11,480,000 shares, the short-interest ratio is presently 0.6 days.

Analysts Set New Price Targets

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

Conduit Pharmaceuticals Stock Performance

Shares of NASDAQ CDT opened at $0.14 on Thursday. The firm has a 50 day moving average price of $0.42 and a 200 day moving average price of $2.09. Conduit Pharmaceuticals has a 52-week low of $0.13 and a 52-week high of $25.00.

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

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.