Short Interest in Candel Therapeutics, Inc. (NASDAQ:CADL) Drops By 33.0%

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 3,060,000 shares, a drop of 33.0% from the December 15th total of 4,570,000 shares. Approximately 11.1% of the shares of the stock are short sold. Based on an average trading volume of 3,420,000 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CTO Seshu Tyagarajan sold 20,392 shares of the firm'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 transaction of $92,987.52. Following the completion of the sale, the chief technology officer now directly owns 125,657 shares in the company, valued at approximately $572,995.92. This trade represents a 13.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William Garrett Nichols sold 13,935 shares of Candel Therapeutics stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $4.56, for a total transaction of $63,543.60. Following the completion of the transaction, the insider now owns 100,547 shares in the company, valued at approximately $458,494.32. This trade represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,000 shares of company stock valued at $268,923 over the last quarter. Corporate insiders own 41.60% of the company's stock.

Institutional Investors Weigh In On Candel Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CADL. State Street Corp lifted its stake in Candel Therapeutics by 4.1% in 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. Geode Capital Management LLC lifted its stake in shares of Candel Therapeutics by 12.8% in the 3rd 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 during the last quarter. HB Wealth Management LLC boosted its holdings in Candel Therapeutics by 54.1% in the fourth quarter. HB Wealth Management LLC now owns 87,300 shares of the company's stock worth $696,000 after purchasing an additional 30,642 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Candel Therapeutics during the second quarter worth $338,000. Finally, Barclays PLC raised its holdings in Candel Therapeutics by 327.1% during the third quarter. Barclays PLC now owns 28,688 shares of the company's stock valued at $199,000 after buying an additional 21,971 shares in the last quarter. 13.93% of the stock is owned by hedge funds and other institutional investors.

Candel Therapeutics Stock Up 2.0 %

Shares of CADL stock traded up $0.16 during trading on Wednesday, hitting $8.00. 4,383,529 shares of the company were exchanged, compared to its average volume of 1,710,274. The business's 50-day simple moving average is $6.47 and its 200 day simple moving average is $6.25. Candel Therapeutics has a twelve month low of $1.16 and a twelve month high of $14.60. The firm has a market capitalization of $259.81 million, a price-to-earnings ratio of -4.62 and a beta of -1.20. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.18.

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.