Candel Therapeutics, Inc. (NASDAQ:CADL) Short Interest Up 18.0% in November

Candel Therapeutics, Inc. (NASDAQ:CADL) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,100,000 shares, a growth of 18.0% from the October 31st total of 1,780,000 shares. Based on an average daily volume of 331,500 shares, the days-to-cover ratio is presently 6.3 days. Currently, 10.5% of the shares of the stock are sold short.

Insider Buying and Selling at Candel Therapeutics

In other news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $6.02, for a total value of $90,300.00. Following the completion of the sale, the insider now owns 929,873 shares in the company, valued at approximately $5,597,835.46. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 31,800 shares of company stock worth $193,380 over the last 90 days. 41.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in shares of Candel Therapeutics by 327.1% in the 3rd quarter. Barclays PLC now owns 28,688 shares of the company’s stock valued at $199,000 after buying an additional 21,971 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Candel Therapeutics by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock valued at $3,112,000 after buying an additional 51,111 shares in the last quarter. State Street Corp boosted its holdings in shares of Candel Therapeutics by 4.1% in the 3rd quarter. State Street Corp now owns 492,005 shares of the company’s stock valued at $3,410,000 after buying an additional 19,207 shares in the last quarter. Atom Investors LP acquired a new stake in Candel Therapeutics in the 3rd quarter worth approximately $103,000. Finally, MetLife Investment Management LLC acquired a new stake in Candel Therapeutics in the 3rd quarter worth approximately $87,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Stock Performance

CADL stock opened at $4.57 on Tuesday. Candel Therapeutics has a 12 month low of $0.77 and a 12 month high of $14.30. The firm’s 50-day moving average is $5.55 and its 200 day moving average is $6.37. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.66.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Candel Therapeutics in a report on Monday, November 18th.

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.