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

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

Insider Buying and Selling

In other news, insider William Garrett Nichols sold 13,935 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 directly owns 100,547 shares in the company, valued at $458,494.32. This represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Francesca Barone sold 13,534 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 value of $97,715.48. Following the completion of the sale, the insider now owns 110,673 shares of the company’s stock, valued at $799,059.06. This trade represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,856 shares of company stock valued at $470,044. 41.60% of the stock is owned by company insiders.

Institutional Trading of Candel Therapeutics

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in Candel Therapeutics in the fourth quarter valued at $30,000. Russell Investments Group Ltd. increased its holdings in Candel Therapeutics by 75.1% in the fourth quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock valued at $33,000 after buying an additional 1,610 shares during the last quarter. FMR LLC purchased a new position in Candel Therapeutics in the third quarter valued at $46,000. MetLife Investment Management LLC purchased a new position in Candel Therapeutics in the third quarter valued at $87,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Candel Therapeutics by 63.6% during the fourth quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock worth $88,000 after purchasing an additional 3,935 shares during the last quarter. 13.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Bank of America initiated coverage on Candel Therapeutics in a report on Friday, February 7th. They issued a “buy” rating and a $15.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $19.00 price target (up from $11.00) on shares of Candel Therapeutics in a research note on Wednesday, December 18th.

Candel Therapeutics Stock Up 5.2 %

NASDAQ:CADL opened at $9.52 on Wednesday. The stock’s fifty day moving average is $8.00 and its two-hundred day moving average is $6.51. Candel Therapeutics has a 52 week low of $1.34 and a 52 week high of $14.60. The stock has a market capitalization of $309.21 million, a price-to-earnings ratio of -5.50 and a beta of -1.25.

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.