Candel Therapeutics, Inc. (NASDAQ:CADL) Short Interest Up 29.6% in March

by · The Cerbat Gem

Candel Therapeutics, Inc. (NASDAQ:CADL – Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 4,470,000 shares, a growth of 29.6% from the March 15th total of 3,450,000 shares. Currently, 12.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,220,000 shares, the days-to-cover ratio is presently 3.7 days.

Insider Buying and Selling

In related news, CTO Seshu Tyagarajan sold 31,278 shares of Candel Therapeutics stock in a transaction on Monday, March 17th. The shares were sold at an average price of $8.82, for a total value of $275,871.96. Following the transaction, the chief technology officer now owns 85,512 shares in the company, valued at $754,215.84. This trade represents a 26.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles Schoch sold 5,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $44,150.00. Following the sale, the insider now owns 38,038 shares of the company’s stock, valued at approximately $335,875.54. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 41.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Candel Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CADL. FMR LLC bought a new position in shares of Candel Therapeutics in the 3rd quarter worth approximately $46,000. State Street Corp raised its holdings in Candel Therapeutics by 4.1% in the third quarter. State Street Corp now owns 492,005 shares of the company’s stock worth $3,410,000 after purchasing an additional 19,207 shares in the last quarter. Barclays PLC raised its holdings in Candel Therapeutics by 327.1% in the third quarter. Barclays PLC now owns 28,688 shares of the company’s stock worth $199,000 after purchasing an additional 21,971 shares in the last quarter. Geode Capital Management LLC lifted its position in Candel Therapeutics by 12.8% during the third quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock valued at $3,112,000 after buying an additional 51,111 shares during the period. Finally, HB Wealth Management LLC boosted its holdings in shares of Candel Therapeutics by 54.1% during the 4th quarter. HB Wealth Management LLC now owns 87,300 shares of the company’s stock valued at $696,000 after buying an additional 30,642 shares in the last quarter. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

Candel Therapeutics Stock Performance

CADL stock traded up $0.04 on Friday, reaching $4.57. The company’s stock had a trading volume of 533,867 shares, compared to its average volume of 1,462,205. The firm has a market cap of $215.86 million, a PE ratio of -2.64 and a beta of -0.95. The business has a fifty day simple moving average of $7.40 and a two-hundred day simple moving average of $6.80. Candel Therapeutics has a 12-month low of $3.79 and a 12-month high of $14.60.

Candel Therapeutics (NASDAQ:CADL – Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.17). As a group, research analysts anticipate that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target on shares of Candel Therapeutics in a research note on Friday, April 11th. Bank of America started coverage on shares of Candel Therapeutics in a research note on Friday, February 7th. They issued a “buy” rating and a $15.00 target price on the stock. Canaccord Genuity Group raised 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. Finally, Citigroup started coverage on shares of Candel Therapeutics in a research note on Thursday, February 20th. They set a “buy” rating and a $25.00 price objective for the company.

Read Our Latest Report on Candel Therapeutics

Candel Therapeutics Company Profile

(Get Free Report)

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.

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