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

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 trading volume, of 3,950,000 shares, the days-to-cover ratio is currently 0.9 days. Approximately 10.6% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider Francesca Barone sold 13,673 shares of Candel Therapeutics stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $8.22, for a total transaction of $112,392.06. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Seshu Tyagarajan sold 14,322 shares of Candel Therapeutics stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $7.22, for a total transaction of $103,404.84. Following the completion of the sale, the chief technology officer now owns 96,790 shares of the company’s stock, valued at $698,823.80. This trade represents a 12.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,529 shares of company stock worth $313,512. 41.60% of the stock is owned by corporate insiders.

Institutional Trading of Candel Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CADL. FMR LLC purchased a new position in Candel Therapeutics during the third quarter valued at $46,000. MetLife Investment Management LLC bought a new stake in Candel Therapeutics in the 3rd quarter worth approximately $87,000. Atom Investors LP bought a new stake in shares of Candel Therapeutics in the third quarter worth $103,000. State Street Corp increased its position in Candel Therapeutics by 4.1% during 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, Barclays PLC boosted its holdings in shares of Candel Therapeutics by 327.1% in the third quarter. Barclays PLC now owns 28,688 shares of the company’s stock worth $199,000 after buying an additional 21,971 shares during the last quarter. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Stock Performance

CADL stock traded up $0.05 during trading on Wednesday, hitting $7.93. 47,072 shares of the company traded hands, compared to its average volume of 2,623,643. Candel Therapeutics has a 1 year low of $1.34 and a 1 year high of $14.60. The firm has a market capitalization of $257.37 million, a PE ratio of -4.62 and a beta of -1.25. The company has a 50-day moving average of $8.32 and a 200-day moving average of $6.81.

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.