Short Interest in Candel Therapeutics, Inc. (NASDAQ:CADL) Increases By 109.6%

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

Insider Buying and Selling

In related news, insider William Garrett Nichols sold 13,935 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $4.56, for a total transaction of $63,543.60. Following the sale, the insider now owns 100,547 shares of the company’s stock, valued at approximately $458,494.32. This trade represents a 12.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul B. Manning bought 1,250,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $6.00 per share, with a total value of $7,500,000.00. Following the completion of the purchase, the director now owns 1,303,752 shares of the company’s stock, valued at approximately $7,822,512. This trade represents a 2,325.49 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 66,127 shares of company stock valued at $349,911 over the last three months. Company insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

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

Wall Street Analyst Weigh In

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

Candel Therapeutics Stock Down 3.3 %

Shares of CADL traded down $0.30 during mid-day trading on Friday, hitting $8.87. 2,238,904 shares of the company’s stock were exchanged, compared to its average volume of 2,422,068. The company has a 50-day simple moving average of $5.69 and a 200 day simple moving average of $6.09. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $288.06 million, a PE ratio of -5.13 and a beta of -0.95. Candel Therapeutics has a 52 week low of $1.16 and a 52 week high of $14.60.

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.