Conduit Pharmaceuticals Inc. (NASDAQ:CDT – Get Free Report) 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.
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Conduit Pharmaceuticals Stock Performance
Conduit Pharmaceuticals (NASDAQ:CDT – Get Free Report) 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.
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