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

Candel Therapeutics, Inc. (NASDAQ:CADL) was the target of a significant increase in short interest in 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 daily volume of 3,950,000 shares, the short-interest ratio is presently 0.9 days. Currently, 10.6% of the company’s stock are short sold.

Analyst Ratings Changes

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

Insider Activity at Candel Therapeutics

In related news, insider Francesca Barone sold 13,673 shares of Candel Therapeutics stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $8.22, for a total value of $112,392.06. Following the sale, the insider now owns 124,207 shares of the company’s stock, valued at approximately $1,020,981.54. The trade was a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul B. Manning bought 1,250,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average price of $6.00 per share, for a total transaction of $7,500,000.00. Following the acquisition, the director now directly owns 1,303,752 shares of the company’s stock, valued at $7,822,512. This represents a 2,325.49 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 41,529 shares of company stock valued at $313,512. Corporate insiders own 41.60% of the company’s stock.

Institutional Trading of Candel Therapeutics

Large investors have recently modified their holdings of the stock. FMR LLC bought a new stake in Candel Therapeutics during the third quarter worth about $46,000. Geode Capital Management LLC lifted its holdings in shares of Candel Therapeutics by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after acquiring an additional 51,111 shares during the period. Barclays PLC boosted its position in shares of Candel Therapeutics by 327.1% during the 3rd quarter. Barclays PLC now owns 28,688 shares of the company’s stock worth $199,000 after acquiring an additional 21,971 shares in the last quarter. State Street Corp increased its stake in Candel Therapeutics by 4.1% in the third quarter. State Street Corp now owns 492,005 shares of the company’s stock valued at $3,410,000 after acquiring an additional 19,207 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in Candel Therapeutics by 54.1% during the fourth quarter. HB Wealth Management LLC now owns 87,300 shares of the company’s stock valued at $696,000 after purchasing an additional 30,642 shares in the last quarter. 13.93% of the stock is owned by institutional investors and hedge funds.

Candel Therapeutics Price Performance

NASDAQ:CADL traded down $0.03 during trading hours on Tuesday, reaching $7.88. 1,320,811 shares of the company were exchanged, compared to its average volume of 2,633,771. The company has a market capitalization of $255.91 million, a P/E ratio of -4.55 and a beta of -1.25. The business has a 50 day moving average of $8.32 and a 200 day moving average of $6.81. Candel Therapeutics has a 1-year low of $1.34 and a 1-year 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.