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

Candel Therapeutics, Inc. (NASDAQ:CADL) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,780,000 shares, an increase of 8.5% from the October 15th total of 1,640,000 shares. Currently, 9.0% of the shares of the company are short sold. Based on an average trading volume of 255,200 shares, the short-interest ratio is currently 7.0 days.

Insiders Place Their Bets

In other Candel Therapeutics news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of Candel Therapeutics stock in a transaction that occurred on Friday, October 11th. The stock was 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 of the company’s stock, valued at $5,716,481.65. The trade was a 1.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 31,800 shares of company stock valued at $193,380 in the last quarter. Insiders own 41.60% of the company’s stock.

Hedge Funds Weigh In On Candel Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in Candel Therapeutics in the 2nd quarter valued at $338,000. Rhumbline Advisers acquired a new stake in shares of Candel Therapeutics during the 2nd quarter valued at about $143,000. Point72 DIFC Ltd acquired a new stake in shares of Candel Therapeutics during the 2nd quarter valued at about $31,000. Cubist Systematic Strategies LLC bought a new stake in Candel Therapeutics in the second quarter valued at about $162,000. Finally, FMR LLC acquired a new position in Candel Therapeutics in the third quarter worth about $46,000. 13.93% of the stock is currently owned by institutional investors.

Candel Therapeutics Stock Performance

Shares of NASDAQ:CADL traded up $0.25 on Monday, hitting $4.05. 304,160 shares of the company were exchanged, compared to its average volume of 1,808,854. The company’s 50 day moving average price is $6.06 and its two-hundred day moving average price is $6.76. The firm has a market capitalization of $129.92 million, a price-to-earnings ratio of -2.34 and a beta of -0.88. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.62 and a current ratio of 1.62. Candel Therapeutics has a one year low of $0.77 and a one year high of $14.30.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $11.00 price objective on shares of Candel Therapeutics in a research note on Monday.

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.