Candel Therapeutics, Inc. (NASDAQ:CADL) Short Interest Up 8.5% in October

Candel Therapeutics, Inc. (NASDAQ:CADL) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 1,780,000 shares, a growth of 8.5% from the October 15th total of 1,640,000 shares. Based on an average trading volume of 255,200 shares, the short-interest ratio is currently 7.0 days. Approximately 9.0% of the company’s stock are sold short.

Candel Therapeutics Price Performance

Shares of CADL opened at $3.96 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.62 and a quick ratio of 1.62. Candel Therapeutics has a 1-year low of $0.77 and a 1-year high of $14.30. The stock has a market cap of $126.88 million, a PE ratio of -2.29 and a beta of -0.88. The firm has a fifty day moving average price of $6.01 and a 200 day moving average price of $6.73.

Insiders Place Their Bets

In other news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $6.02, for a total transaction of $90,300.00. Following the completion of the transaction, the insider now directly owns 929,873 shares of the company’s stock, valued at approximately $5,597,835.46. This represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 31,800 shares of company stock worth $193,380 in the last 90 days. Corporate insiders own 41.60% of the company’s stock.

Institutional Trading of Candel Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CADL. Point72 DIFC Ltd purchased a new stake in Candel Therapeutics in the second quarter valued at approximately $31,000. FMR LLC purchased a new stake in Candel Therapeutics in the 3rd quarter valued at $46,000. MetLife Investment Management LLC acquired a new stake in Candel Therapeutics during the 3rd quarter worth $87,000. Atom Investors LP acquired a new stake in shares of Candel Therapeutics during the third quarter worth about $103,000. Finally, Rhumbline Advisers acquired a new position in Candel Therapeutics in the 2nd quarter valued at about $143,000. 13.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of Candel Therapeutics in a research note on Monday.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.