Short Interest in Candel Therapeutics, Inc. (NASDAQ:CADL) Expands By 109.6%

Candel Therapeutics, Inc. (NASDAQ:CADL) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 4,570,000 shares, a growth of 109.6% from the November 30th total of 2,180,000 shares. Based on an average trading volume of 3,200,000 shares, the short-interest ratio is presently 1.4 days. Approximately 17.4% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Candel Therapeutics

In related news, CTO Seshu Tyagarajan sold 20,392 shares of Candel Therapeutics stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $4.56, for a total transaction of $92,987.52. Following the completion of the transaction, the chief technology officer now directly owns 125,657 shares of the company’s stock, valued at $572,995.92. This trade represents a 13.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $6.02, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 66,127 shares of company stock valued at $349,911. Corporate insiders own 41.60% of the company’s stock.

Institutional Trading of Candel Therapeutics

Several institutional investors have recently added to or reduced their stakes in CADL. Point72 DIFC Ltd purchased a new position in shares of Candel Therapeutics in the second quarter worth $31,000. FMR LLC bought a new stake in Candel Therapeutics in the 3rd quarter worth about $46,000. MetLife Investment Management LLC purchased a new position in Candel Therapeutics in the 3rd quarter worth about $87,000. Atom Investors LP bought a new position in Candel Therapeutics during the 3rd quarter valued at about $103,000. Finally, Rhumbline Advisers purchased a new stake in shares of Candel Therapeutics during the 2nd quarter valued at about $143,000. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

Candel Therapeutics Stock Down 3.3 %

Shares of NASDAQ CADL traded down $0.30 during midday trading on Friday, hitting $8.87. The stock had a trading volume of 2,242,632 shares, compared to its average volume of 2,422,796. The business’s 50 day moving average is $5.75 and its 200-day moving average is $6.09. Candel Therapeutics has a 52 week low of $1.16 and a 52 week high of $14.60. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.66. The company has a market cap of $288.06 million, a P/E ratio of -5.13 and a beta of -0.95.

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.