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

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

Insider Buying and Selling at Candel Therapeutics

In other Candel Therapeutics news, Director Paul B. Manning acquired 1,250,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $6.00 per share, with a total value of $7,500,000.00. Following the completion of the acquisition, the director now directly owns 1,303,752 shares in the company, valued at $7,822,512. This trade represents a 2,325.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Garrett Nichols sold 13,935 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $4.56, for a total transaction of $63,543.60. Following the sale, the insider now directly owns 100,547 shares in the company, valued at approximately $458,494.32. This trade represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,000 shares of company stock valued at $268,923 over the last three months. 41.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Candel Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC purchased a new stake in Candel Therapeutics in the third quarter valued at approximately $46,000. Geode Capital Management LLC raised 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 in the last quarter. Barclays PLC raised its stake in Candel Therapeutics by 327.1% in the third quarter. Barclays PLC now owns 28,688 shares of the company’s stock valued at $199,000 after purchasing an additional 21,971 shares in the last quarter. State Street Corp raised 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 purchasing an additional 19,207 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Candel Therapeutics in the second quarter valued at approximately $162,000. 13.93% of the stock is owned by hedge funds and other institutional investors.

Candel Therapeutics Price Performance

Shares of Candel Therapeutics stock traded down $0.80 on Wednesday, reaching $7.04. The stock had a trading volume of 1,004,626 shares, compared to its average volume of 1,305,797. Candel Therapeutics has a 1 year low of $1.16 and a 1 year high of $14.60. The company has a market cap of $228.63 million, a P/E ratio of -4.07 and a beta of -1.20. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66. The business’s 50 day moving average is $6.47 and its two-hundred day moving average is $6.25.

Analyst Ratings Changes

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

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.