Candel Therapeutics, Inc. (NASDAQ:CADL) Short Interest Up 18.0% in November

Candel Therapeutics, Inc. (NASDAQ:CADL) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,100,000 shares, a growth of 18.0% from the October 31st total of 1,780,000 shares. Based on an average daily trading volume, of 331,500 shares, the days-to-cover ratio is presently 6.3 days. Approximately 10.5% of the company’s shares are short sold.

Insider Transactions at Candel Therapeutics

In other Candel Therapeutics news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $6.05, for a total value of $90,750.00. Following the sale, the insider now owns 944,873 shares in the company, valued at $5,716,481.65. This represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 31,800 shares of company stock worth $193,380. 41.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CADL. Bank of New York Mellon Corp purchased a new stake in Candel Therapeutics during the second quarter valued at about $338,000. Geode Capital Management LLC grew its position in shares of 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. Cubist Systematic Strategies LLC purchased a new stake in Candel Therapeutics during the 2nd quarter worth about $162,000. Rhumbline Advisers purchased a new position in Candel Therapeutics during the second quarter valued at approximately $143,000. Finally, Barclays PLC boosted its holdings in Candel Therapeutics by 327.1% in the 3rd quarter. Barclays PLC now owns 28,688 shares of the company’s stock valued at $199,000 after purchasing an additional 21,971 shares during the period. Institutional investors own 13.93% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Candel Therapeutics in a report on Monday, November 18th.

Candel Therapeutics Trading Down 2.6 %

NASDAQ:CADL traded down $0.12 on Tuesday, hitting $4.45. The stock had a trading volume of 206,404 shares, compared to its average volume of 1,760,650. Candel Therapeutics has a 52 week low of $0.77 and a 52 week high of $14.30. The business’s fifty day moving average is $5.55 and its 200 day moving average is $6.37. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.66.

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.