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

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 2,640,000 shares, a drop of 9.6% from the January 15th total of 2,920,000 shares. Based on an average daily volume of 3,710,000 shares, the short-interest ratio is presently 0.7 days. Currently, 8.2% of the company's stock are short sold.

Insider Buying and Selling at Candel Therapeutics

In related news, insider Francesca Barone sold 13,534 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total transaction of $97,715.48. Following the completion of the transaction, the insider now owns 110,673 shares in the company, valued at approximately $799,059.06. The trade was a 10.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William Garrett Nichols sold 13,935 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $4.56, for a total value of $63,543.60. Following the completion of the sale, the insider now owns 100,547 shares in the company, valued at approximately $458,494.32. This represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,856 shares of company stock valued at $470,044 in the last quarter. Corporate insiders own 41.60% of the company's stock.

Institutional Investors Weigh In On Candel Therapeutics

Large investors have recently modified their holdings of the company. Squarepoint Ops LLC increased its holdings in shares of Candel Therapeutics by 86.6% in the 4th quarter. Squarepoint Ops LLC now owns 19,311 shares of the company's stock valued at $168,000 after acquiring an additional 8,962 shares during the period. Nuveen Asset Management LLC increased its stake in Candel Therapeutics by 3.0% in the fourth quarter. Nuveen Asset Management LLC now owns 68,226 shares of the company's stock valued at $592,000 after purchasing an additional 2,009 shares during the period. Maven Securities LTD purchased a new stake in shares of Candel Therapeutics in the fourth quarter valued at about $449,000. Millennium Management LLC boosted its stake in shares of Candel Therapeutics by 130.6% during the fourth quarter. Millennium Management LLC now owns 31,626 shares of the company's stock worth $275,000 after buying an additional 17,914 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Candel Therapeutics by 12.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,165 shares of the company's stock worth $106,000 after buying an additional 1,340 shares during the last quarter. 13.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CADL shares. Canaccord Genuity Group started coverage on Candel Therapeutics in a research note on Wednesday. They set a "buy" rating and a $20.00 target price for the company. HC Wainwright reissued a "buy" rating and set a $19.00 price objective (up previously from $11.00) on shares of Candel Therapeutics in a report on Wednesday, December 18th. Finally, Bank of America initiated coverage on shares of Candel Therapeutics in a report on Friday, February 7th. They issued a "buy" rating and a $15.00 target price for the company.

Candel Therapeutics Trading Up 10.0 %

Shares of Candel Therapeutics stock traded up $0.95 on Wednesday, hitting $10.47. The stock had a trading volume of 2,454,482 shares, compared to its average volume of 1,201,524. The company's 50 day moving average price is $8.06 and its 200 day moving average price is $6.54. The stock has a market cap of $340.07 million, a price-to-earnings ratio of -6.05 and a beta of -1.25. Candel Therapeutics has a 52-week low of $1.34 and a 52-week high of $14.60.

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.