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

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other 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 value of $97,715.48. Following the transaction, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul B. Manning bought 1,250,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $6.00 per share, for a total transaction 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 $7,822,512. This trade represents a 2,325.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 41,529 shares of company stock worth $313,512 in the last ninety days. 41.60% of the stock is owned by insiders.

Institutional Trading of Candel Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CADL. MetLife Investment Management LLC boosted its stake in Candel Therapeutics by 9.7% during the fourth quarter. MetLife Investment Management LLC now owns 13,773 shares of the company’s stock worth $120,000 after acquiring an additional 1,215 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Candel Therapeutics by 12.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,165 shares of the company’s stock worth $106,000 after buying an additional 1,340 shares during the last quarter. JPMorgan Chase & Co. increased its position in Candel Therapeutics by 15.2% during the 4th quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company’s stock valued at $90,000 after buying an additional 1,375 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Candel Therapeutics by 75.1% during the fourth quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock valued at $33,000 after buying an additional 1,610 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Candel Therapeutics by 3.0% in the fourth quarter. Nuveen Asset Management LLC now owns 68,226 shares of the company’s stock worth $592,000 after acquiring an additional 2,009 shares in the last quarter. 13.93% of the stock is owned by hedge funds and other institutional investors.

Candel Therapeutics Price Performance

CADL stock traded down $0.04 during midday trading on Thursday, hitting $8.11. The stock had a trading volume of 50,985 shares, compared to its average volume of 2,626,468. The business has a 50-day moving average of $8.30 and a two-hundred day moving average of $6.82. The firm has a market cap of $263.22 million, a price-to-earnings ratio of -4.70 and a beta of -1.25. Candel Therapeutics has a 52-week low of $1.34 and a 52-week high of $14.60.

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.