Candel Therapeutics, Inc. (NASDAQ:CADL) Short Interest Update

Candel Therapeutics, Inc. (NASDAQ:CADL) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 4,470,000 shares, an increase of 29.6% from the March 15th total of 3,450,000 shares. Based on an average trading volume of 1,220,000 shares, the days-to-cover ratio is currently 3.7 days. Currently, 12.9% of the company’s stock are sold short.

Analyst Ratings Changes

A number of research firms have issued reports on CADL. Bank of America initiated coverage on Candel Therapeutics in a report on Friday, February 7th. They issued a “buy” rating and a $15.00 target price on the stock. Citigroup started coverage on shares of Candel Therapeutics in a research report on Thursday, February 20th. They issued a “buy” rating and a $25.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Candel Therapeutics in a research note on Friday, April 11th. Finally, Canaccord Genuity Group upped their price target on Candel Therapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, February 26th.

Insider Transactions at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 31,278 shares of Candel Therapeutics stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.82, for a total value of $275,871.96. Following the transaction, the chief technology officer now owns 85,512 shares of the company’s stock, valued at $754,215.84. This trade represents a 26.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charles Schoch sold 5,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $44,150.00. Following the sale, the insider now directly owns 38,038 shares of the company’s stock, valued at approximately $335,875.54. This represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 41.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Candel Therapeutics

A number of large investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its holdings in Candel Therapeutics by 17.0% during the 4th quarter. Rhumbline Advisers now owns 26,272 shares of the company’s stock worth $228,000 after buying an additional 3,817 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Candel Therapeutics in the fourth quarter valued at approximately $329,000. FMR LLC acquired a new position in shares of Candel Therapeutics in the 3rd quarter valued at $46,000. Geode Capital Management LLC boosted its holdings in 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 buying an additional 51,111 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Candel Therapeutics by 11.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 52,190 shares of the company’s stock worth $453,000 after buying an additional 5,413 shares during the period. 13.93% of the stock is currently owned by institutional investors and hedge funds.

Candel Therapeutics Price Performance

NASDAQ CADL opened at $4.60 on Monday. The stock’s 50 day simple moving average is $7.40 and its 200 day simple moving average is $6.80. Candel Therapeutics has a one year low of $3.79 and a one year high of $14.60. The firm has a market cap of $217.04 million, a PE ratio of -2.64 and a beta of -0.95.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.17). As a group, equities analysts expect that Candel Therapeutics will post -1.47 earnings per share for the current year.

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.