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

Candel Therapeutics, Inc. (NASDAQ:CADL) saw a large 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. Based on an average daily trading volume, of 3,710,000 shares, the days-to-cover ratio is currently 0.7 days. Approximately 8.2% of the company’s stock are short sold.

Analyst Ratings Changes

CADL has been the topic of several research reports. Bank of America initiated coverage on Candel Therapeutics in a research report on Friday, February 7th. They set a “buy” rating and a $15.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $19.00 price target (up from $11.00) on shares of Candel Therapeutics in a research report on Wednesday, December 18th.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL opened at $9.05 on Tuesday. Candel Therapeutics has a 1-year low of $1.34 and a 1-year high of $14.60. The business’s fifty day moving average price is $7.90 and its two-hundred day moving average price is $6.48. The firm has a market capitalization of $293.91 million, a PE ratio of -5.23 and a beta of -1.25.

Insider Activity

In related news, insider Francesca Barone sold 13,673 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $8.22, for a total transaction of $112,392.06. Following the sale, the insider now directly owns 124,207 shares of the company’s stock, valued at approximately $1,020,981.54. This represents a 9.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Seshu Tyagarajan sold 20,392 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $4.56, for a total value of $92,987.52. Following the sale, the chief technology officer now directly owns 125,657 shares in the company, valued at approximately $572,995.92. This represents a 13.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 75,856 shares of company stock worth $470,044. 41.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Candel Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP acquired a new stake in Candel Therapeutics in the fourth quarter worth $25,884,000. Acorn Capital Advisors LLC acquired a new stake in Candel Therapeutics in the fourth quarter worth $16,836,000. Braidwell LP acquired a new stake in Candel Therapeutics in the fourth quarter worth $13,888,000. Portolan Capital Management LLC acquired a new stake in Candel Therapeutics in the fourth quarter worth $6,543,000. Finally, Halter Ferguson Financial Inc. increased its position in Candel Therapeutics by 123.7% in the fourth quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company’s stock worth $5,914,000 after buying an additional 376,795 shares during the period. 13.93% of the stock is owned by institutional investors and hedge funds.

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.