Candel Therapeutics, Inc. (NASDAQ:CADL) Sees Large Growth in Short Interest

Candel Therapeutics, Inc. (NASDAQ:CADL) was the recipient of a large increase in short interest during 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 trading volume, of 3,200,000 shares, the short-interest ratio is currently 1.4 days. Currently, 17.4% of the shares of the company are short sold.

Insider Transactions at Candel Therapeutics

In related news, Director Paul B. Manning acquired 1,250,000 shares of Candel Therapeutics stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of $6.00 per share, for a total transaction of $7,500,000.00. Following the completion of the transaction, the director now directly owns 1,303,752 shares in the company, valued at approximately $7,822,512. This represents a 2,325.49 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Garrett Nichols sold 13,935 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $4.56, for a total value of $63,543.60. Following the transaction, the insider now owns 100,547 shares of the company’s stock, valued at approximately $458,494.32. The trade was a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,127 shares of company stock worth $349,911 in the last ninety days. Insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Several hedge funds have recently made changes to their positions in CADL. Bank of New York Mellon Corp bought a new position in Candel Therapeutics during the 2nd quarter worth about $338,000. Geode Capital Management LLC grew its stake in Candel Therapeutics by 12.8% in the third quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock valued at $3,112,000 after purchasing an additional 51,111 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Candel Therapeutics during the second quarter valued at approximately $162,000. Rhumbline Advisers acquired a new stake in shares of Candel Therapeutics in the 2nd quarter worth $143,000. Finally, Barclays PLC increased its holdings in shares of Candel Therapeutics by 327.1% during the third quarter. Barclays PLC now owns 28,688 shares of the company’s stock valued at $199,000 after acquiring an additional 21,971 shares in the last quarter. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Candel Therapeutics Trading Down 3.3 %

CADL stock traded down $0.30 during trading on Friday, hitting $8.87. The company had a trading volume of 2,242,632 shares, compared to its average volume of 2,422,796. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $288.06 million, a P/E ratio of -5.13 and a beta of -0.95. The company has a 50 day simple moving average of $5.75 and a 200-day simple moving average of $6.09. 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.