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

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) saw a significant increase in short interest during the month of 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. Approximately 10.6% of the company's stock are short sold. Based on an average daily trading volume, of 3,950,000 shares, the days-to-cover ratio is presently 0.9 days.

Candel Therapeutics Trading Up 5.2 %

NASDAQ CADL traded up $0.41 during trading hours on Friday, reaching $8.26. The company had a trading volume of 638,350 shares, compared to its average volume of 2,640,656. Candel Therapeutics has a 1-year low of $1.34 and a 1-year high of $14.60. The stock has a market capitalization of $268.25 million, a P/E ratio of -4.77 and a beta of -1.29. The stock has a 50-day moving average of $8.28 and a 200 day moving average of $6.82.

Wall Street Analysts Forecast Growth

CADL has been the topic of several recent research reports. HC Wainwright restated a "buy" rating and issued a $19.00 price objective on shares of Candel Therapeutics in a research report on Wednesday, February 26th. Canaccord Genuity Group increased their price target on shares of Candel Therapeutics from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Citigroup assumed coverage on shares of Candel Therapeutics in a research report on Thursday, February 20th. They set a "buy" rating and a $25.00 price target on the stock. Finally, Bank of America started coverage on shares of Candel Therapeutics in a research report on Friday, February 7th. They issued a "buy" rating and a $15.00 price objective for the company.

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Insider Buying and Selling at Candel Therapeutics

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 14,322 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total transaction of $103,404.84. Following the transaction, the chief technology officer now owns 96,790 shares in the company, valued at approximately $698,823.80. This represents a 12.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Francesca Barone sold 13,673 shares of the firm's stock in a transaction 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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,529 shares of company stock worth $313,512. 41.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new stake in Candel Therapeutics during the 4th quarter worth about $30,000. Russell Investments Group Ltd. increased its stake in shares of Candel Therapeutics by 75.1% during the fourth quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company's stock worth $33,000 after buying an additional 1,610 shares during the period. FMR LLC purchased a new stake in shares of Candel Therapeutics during the third quarter worth approximately $46,000. MetLife Investment Management LLC acquired a new stake in Candel Therapeutics in the third quarter valued at approximately $87,000. Finally, Wells Fargo & Company MN lifted its stake in Candel Therapeutics by 63.6% in the fourth quarter. Wells Fargo & Company MN now owns 10,122 shares of the company's stock worth $88,000 after acquiring an additional 3,935 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company's stock.

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.