Short Interest in Candel Therapeutics, Inc. (NASDAQ:CADL) Decreases By 9.6%

Candel Therapeutics, Inc. (NASDAQ:CADL) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 2,640,000 shares, a decrease of 9.6% from the January 15th total of 2,920,000 shares. Approximately 8.2% of the company’s stock are short sold. Based on an average daily volume of 3,710,000 shares, the short-interest ratio is currently 0.7 days.

Insider Activity at Candel Therapeutics

In other news, insider William Garrett Nichols sold 13,935 shares of the 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 transaction, the insider now owns 100,547 shares of the company’s stock, valued at approximately $458,494.32. This trade represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Francesca Barone sold 13,673 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $8.22, for a total value of $112,392.06. Following the transaction, the insider now directly owns 124,207 shares in the company, valued at approximately $1,020,981.54. This represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,856 shares of company stock valued at $470,044. Insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Several large investors have recently made changes to their positions in CADL. BNP Paribas Financial Markets bought a new position in Candel Therapeutics in the 4th quarter valued at about $30,000. Russell Investments Group Ltd. boosted its holdings in shares of Candel Therapeutics by 75.1% in the fourth quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock valued at $33,000 after acquiring an additional 1,610 shares in the last quarter. FMR LLC bought a new position in shares of Candel Therapeutics in the third quarter valued at approximately $46,000. MetLife Investment Management LLC bought a new stake in Candel Therapeutics during the third quarter worth approximately $87,000. Finally, Wells Fargo & Company MN lifted its position in Candel Therapeutics by 63.6% in the fourth quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock worth $88,000 after purchasing an additional 3,935 shares during the period. Institutional investors and hedge funds own 13.93% of the company’s stock.

Candel Therapeutics Price Performance

Shares of CADL stock traded up $0.23 during trading hours on Monday, reaching $9.05. The stock had a trading volume of 786,771 shares, compared to its average volume of 1,085,795. The firm has a 50-day simple moving average of $7.82 and a 200-day simple moving average of $6.46. The firm has a market capitalization of $293.91 million, a PE ratio of -5.23 and a beta of -1.25. Candel Therapeutics has a twelve month low of $1.34 and a twelve month high of $14.60.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CADL shares. HC Wainwright restated a “buy” rating and issued a $19.00 price target (up from $11.00) on shares of Candel Therapeutics in a research report on Wednesday, December 18th. Bank of America initiated coverage on Candel Therapeutics in a research note on Friday, February 7th. They issued a “buy” rating and a $15.00 target price for the company.

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.