Candel Therapeutics, Inc. (NASDAQ:CADL) Sees Significant Growth in Short Interest

Candel Therapeutics, Inc. (NASDAQ:CADL) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 4,570,000 shares, a growth of 109.6% from the November 30th total of 2,180,000 shares. Based on an average daily trading volume, of 3,200,000 shares, the short-interest ratio is currently 1.4 days. Approximately 17.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $19.00 price target (up from $11.00) on shares of Candel Therapeutics in a research report on Wednesday, December 18th.

Candel Therapeutics Trading Down 3.3 %

CADL traded down $0.30 on Friday, hitting $8.87. 2,242,632 shares of the company were exchanged, compared to its average volume of 2,422,796. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a fifty day simple moving average of $5.75 and a two-hundred day simple moving average of $6.09. The stock has a market capitalization of $288.06 million, a PE ratio of -5.13 and a beta of -0.95. Candel Therapeutics has a 12 month low of $1.16 and a 12 month high of $14.60.

Insider Activity at Candel Therapeutics

In related news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $6.05, for a total value of $90,750.00. Following the completion of the transaction, the insider now directly owns 944,873 shares in the company, valued at approximately $5,716,481.65. The trade was a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul B. Manning purchased 1,250,000 shares of the stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $6.00 per share, for a total transaction of $7,500,000.00. Following the transaction, the director now directly owns 1,303,752 shares of the company’s stock, valued at approximately $7,822,512. This represents a 2,325.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 66,127 shares of company stock valued at $349,911. Company insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in Candel Therapeutics during the 2nd quarter valued at $338,000. Geode Capital Management LLC boosted its holdings in shares of Candel Therapeutics by 12.8% during the third quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after purchasing an additional 51,111 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Candel Therapeutics during the second quarter worth about $162,000. Rhumbline Advisers bought a new stake in shares of Candel Therapeutics in the second quarter worth about $143,000. Finally, Barclays PLC raised its position in Candel Therapeutics by 327.1% during the 3rd quarter. Barclays PLC now owns 28,688 shares of the company’s stock valued at $199,000 after purchasing an additional 21,971 shares during the last quarter. 13.93% of the stock is owned by hedge funds and other institutional investors.

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.