Short Interest in Candel Therapeutics, Inc. (NASDAQ:CADL) Expands By 18.0%

Candel Therapeutics, Inc. (NASDAQ:CADL) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 2,100,000 shares, a growth of 18.0% from the October 31st total of 1,780,000 shares. Based on an average daily volume of 331,500 shares, the days-to-cover ratio is currently 6.3 days. Currently, 10.5% of the shares of the stock are sold short.

Candel Therapeutics Stock Down 2.6 %

Shares of NASDAQ:CADL traded down $0.12 on Tuesday, reaching $4.45. 206,404 shares of the company’s stock were exchanged, compared to its average volume of 1,760,650. Candel Therapeutics has a fifty-two week low of $0.77 and a fifty-two week high of $14.30. The business’s 50-day moving average is $5.55 and its two-hundred day moving average is $6.37. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.66.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Candel Therapeutics in a research report on Monday, November 18th.

Insider Buying and Selling

In other news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the stock in a transaction on 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 in the company, valued at approximately $5,597,835.46. This represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 31,800 shares of company stock worth $193,380. 41.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Candel Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in shares of Candel Therapeutics in the second quarter worth approximately $338,000. Rhumbline Advisers acquired a new stake in shares of Candel Therapeutics in the second quarter worth $143,000. Point72 DIFC Ltd bought a new stake in shares of Candel Therapeutics in the 2nd quarter worth approximately $31,000. Cubist Systematic Strategies LLC bought a new position in shares of Candel Therapeutics during the 2nd quarter worth about $162,000. Finally, FMR LLC acquired a new position in shares of Candel Therapeutics in the 3rd quarter worth approximately $46,000. 13.93% of the stock is currently owned by 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.