The trading price of Conduit Pharmaceuticals Inc (NASDAQ:CDT) closed lower on Tuesday, October 29, and closing at $0.10, -3.32% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $0.1016 and $0.1139. In examining the 52-week price action we see that the stock hit a 52-week high of $7.83 and a 52-week low of $0.09. Over the past month, the stock has lost -11.56% in value.
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Conduit Pharmaceuticals Inc, whose market valuation is $10.06 million at the time of this writing, is expected to release its quarterly earnings report in November. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest CDT has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
A quick review shows that CDT’s price is currently -3.27% off the SMA20 and -15.95% off the SMA50. The RSI metric on the 14-day chart is currently showing 42.75, and weekly volatility stands at 14.78%. When measured over the past 30 days, the indicator reaches 14.53%. Conduit Pharmaceuticals Inc (NASDAQ:CDT)’s beta value is currently sitting at 2.09, while the Average True Range indicator is currently displaying 0.02.
To see how Conduit Pharmaceuticals Inc stock has been performing in comparison to its peers in the industry, here are the numbers: CDT stock’s performance was -3.32% in the latest trading, and -90.02% in the past year.
An evaluation of the daily trading volume of Conduit Pharmaceuticals Inc (NASDAQ:CDT) indicates that the 3-month average is 19.35 million. However, this figure has increased over the past 10 days to an average of 22.1.
Currently, records show that 73.83 million of the company’s shares remain outstanding. The insiders hold 46.26% of outstanding shares, whereas institutions hold 3.09%. The stats also highlight that short interest as of 2024-10-15, stood at 1.45 million shares, resulting in a short ratio of 0.25 at that time. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 1.07 million. However, since the stock’s price has seen -97.70% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
