Candel Therapeutics, Inc. (NASDAQ:CADL) Short Interest Up 109.6% in December

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 4,570,000 shares, an increase of 109.6% from the November 30th total of 2,180,000 shares. Currently, 17.4% of the shares of the stock are sold short. Based on an average daily volume of 3,200,000 shares, the days-to-cover ratio is presently 1.4 days.

Insider Activity at Candel Therapeutics

In related news, Director Paul B. Manning acquired 1,250,000 shares of the stock in a transaction dated Monday, December 16th. The stock was acquired at an average cost of $6.00 per share, with a total value of $7,500,000.00. Following the purchase, the director now directly owns 1,303,752 shares of the company's stock, valued at approximately $7,822,512. This trade represents a 2,325.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the business's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $6.05, for a total value of $90,750.00. Following the transaction, the insider now directly owns 944,873 shares in the company, valued at approximately $5,716,481.65. This represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,127 shares of company stock valued at $349,911. 41.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in shares of Candel Therapeutics during the second quarter worth $338,000. Rhumbline Advisers purchased a new position in Candel Therapeutics in the 2nd quarter worth about $143,000. Point72 DIFC Ltd bought a new stake in Candel Therapeutics during the 2nd quarter valued at about $31,000. Cubist Systematic Strategies LLC purchased a new stake in Candel Therapeutics in the 2nd quarter valued at about $162,000. Finally, FMR LLC bought a new position in Candel Therapeutics in the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 13.93% of the company's stock.

Analyst Upgrades and Downgrades

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

Candel Therapeutics Trading Down 3.3 %

NASDAQ:CADL traded down $0.30 during mid-day trading on Friday, hitting $8.87. 2,242,632 shares of the stock traded hands, compared to its average volume of 2,422,796. 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 has a 52 week low of $1.16 and a 52 week high of $14.60. The stock has a market capitalization of $288.06 million, a price-to-earnings ratio of -5.13 and a beta of -0.95. The firm's 50 day moving average is $5.75 and its two-hundred day moving average is $6.10.

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.