Candel Therapeutics, Inc. (NASDAQ:CADL) Short Interest Down 9.6% in January

Candel Therapeutics, Inc. (NASDAQ:CADL) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 2,640,000 shares, a decrease of 9.6% from the January 15th total of 2,920,000 shares. Based on an average trading volume of 3,710,000 shares, the short-interest ratio is presently 0.7 days. Approximately 8.2% of the shares of the stock are sold short.

Insider Activity

In related news, insider Francesca Barone sold 13,534 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total transaction of $97,715.48. Following the completion of the sale, the insider now directly owns 110,673 shares in the company, valued at approximately $799,059.06. This trade represents a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Seshu Tyagarajan sold 14,322 shares of Candel Therapeutics stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total transaction of $103,404.84. Following the sale, the chief technology officer now directly owns 96,790 shares of the company’s stock, valued at $698,823.80. This trade represents a 12.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,856 shares of company stock worth $470,044. Insiders own 41.60% of the company’s stock.

Hedge Funds Weigh In On Candel Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baker BROS. Advisors LP acquired a new stake in shares of Candel Therapeutics during the 4th quarter worth approximately $25,884,000. Acorn Capital Advisors LLC acquired a new stake in Candel Therapeutics during the fourth quarter worth $16,836,000. Braidwell LP acquired a new stake in Candel Therapeutics during the fourth quarter worth $13,888,000. Portolan Capital Management LLC bought a new stake in Candel Therapeutics in the 4th quarter valued at $6,543,000. Finally, Halter Ferguson Financial Inc. raised its stake in shares of Candel Therapeutics by 123.7% in the 4th quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company’s stock valued at $5,914,000 after buying an additional 376,795 shares in the last quarter. 13.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CADL. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target (up previously from $11.00) on shares of Candel Therapeutics in a research report on Wednesday, December 18th. Bank of America started coverage on Candel Therapeutics in a report on Friday, February 7th. They issued a “buy” rating and a $15.00 target price for the company.

Candel Therapeutics Stock Up 2.6 %

NASDAQ CADL traded up $0.23 during midday trading on Monday, hitting $9.05. The company had a trading volume of 786,771 shares, compared to its average volume of 1,085,795. The firm has a fifty day simple moving average of $7.82 and a two-hundred day simple moving average of $6.46. Candel Therapeutics has a fifty-two week low of $1.34 and a fifty-two week high of $14.60. The stock has a market cap of $293.91 million, a price-to-earnings ratio of -5.23 and a beta of -1.25.

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.