Candel Therapeutics, Inc. (NASDAQ:CADL) Sees Significant Drop in Short Interest

Candel Therapeutics, Inc. (NASDAQ:CADL) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 3,060,000 shares, a drop of 33.0% from the December 15th total of 4,570,000 shares. Approximately 11.1% of the shares of the stock are short sold. Based on an average trading volume of 3,420,000 shares, the short-interest ratio is currently 0.9 days.

Analysts Set New Price Targets

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

Insider Buying and Selling at Candel Therapeutics

In other news, insider Francesca Barone sold 13,673 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,020,981.54. This trade represents a 9.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Garrett Nichols sold 13,935 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 100,547 shares in the company, valued at $458,494.32. This represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,000 shares of company stock worth $268,923 over the last ninety days. Insiders own 41.60% of the company’s stock.

Institutional Trading of Candel Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new stake in Candel Therapeutics in the second quarter worth $31,000. FMR LLC purchased a new stake in Candel Therapeutics in the third quarter worth $46,000. MetLife Investment Management LLC purchased a new stake in Candel Therapeutics in the third quarter worth $87,000. Atom Investors LP purchased a new stake in Candel Therapeutics in the third quarter worth $103,000. Finally, Rhumbline Advisers purchased a new stake in Candel Therapeutics in the second quarter worth $143,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Trading Down 10.2 %

CADL stock traded down $0.80 on Wednesday, reaching $7.04. The company’s stock had a trading volume of 1,004,626 shares, compared to its average volume of 1,305,797. The business has a fifty day simple moving average of $6.47 and a two-hundred day simple moving average of $6.25. Candel Therapeutics has a 12-month low of $1.16 and a 12-month high of $14.60. The firm has a market cap of $228.63 million, a PE ratio of -4.07 and a beta of -1.20. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.18.

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.