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

Candel Therapeutics, Inc. (NASDAQ:CADL) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 3,450,000 shares, a growth of 30.7% from the January 31st total of 2,640,000 shares. Based on an average daily trading volume, of 3,950,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 10.6% of the shares of the company are short sold.

Insider Transactions at Candel Therapeutics

In other news, insider Francesca Barone sold 13,673 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $8.22, for a total value of $112,392.06. Following the transaction, the insider now owns 124,207 shares of the company’s stock, valued at approximately $1,020,981.54. The trade was a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul B. Manning purchased 1,250,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $7,500,000.00. Following the purchase, the director now owns 1,303,752 shares of the company’s stock, valued at $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. Insiders have sold 41,529 shares of company stock valued at $313,512 over the last quarter. 41.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Candel Therapeutics

Several large investors have recently added to or reduced their stakes in the business. FMR LLC purchased a new position in Candel Therapeutics in the third quarter valued at approximately $46,000. Geode Capital Management LLC lifted its stake in shares of Candel Therapeutics by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after acquiring an additional 51,111 shares during the period. Barclays PLC raised its stake in shares of Candel Therapeutics by 327.1% during the 3rd quarter. Barclays PLC now owns 28,688 shares of the company’s stock worth $199,000 after buying an additional 21,971 shares in the last quarter. State Street Corp boosted its stake in shares of Candel Therapeutics by 4.1% in the third quarter. State Street Corp now owns 492,005 shares of the company’s stock valued at $3,410,000 after buying an additional 19,207 shares in the last quarter. Finally, HB Wealth Management LLC grew its holdings in Candel Therapeutics by 54.1% during the fourth quarter. HB Wealth Management LLC now owns 87,300 shares of the company’s stock worth $696,000 after acquiring an additional 30,642 shares during the period. 13.93% of the stock is owned by hedge funds and other institutional investors.

Candel Therapeutics Trading Up 0.6 %

CADL traded up $0.05 on Wednesday, hitting $7.93. The company had a trading volume of 47,072 shares, compared to its average volume of 2,623,643. The firm has a market cap of $257.37 million, a P/E ratio of -4.62 and a beta of -1.25. The company’s fifty day moving average price is $8.32 and its 200 day moving average price is $6.81. Candel Therapeutics has a 1 year low of $1.34 and a 1 year high of $14.60.

Wall Street Analyst Weigh In

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

About Candel Therapeutics

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.