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

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. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is presently 3.7 days. Currently, 12.9% of the company's stock are sold short.

Insider Buying and Selling

In other Candel Therapeutics news, insider Charles Schoch sold 5,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.83, for a total value of $44,150.00. Following the completion of the transaction, the insider now directly owns 38,038 shares in the company, valued at $335,875.54. This represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Seshu Tyagarajan sold 31,278 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.82, for a total transaction of $275,871.96. Following the completion of the sale, the chief technology officer now directly owns 85,512 shares of the company's stock, valued at approximately $754,215.84. This trade represents a 26.78 % 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 company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CADL. BNP Paribas Financial Markets acquired a new position in Candel Therapeutics in the fourth quarter valued at approximately $30,000. Russell Investments Group Ltd. raised its holdings in Candel Therapeutics by 75.1% during the fourth quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company's stock worth $33,000 after purchasing an additional 1,610 shares in the last quarter. FMR LLC acquired a new stake in shares of Candel Therapeutics in the third quarter valued at approximately $46,000. Wells Fargo & Company MN raised its holdings in 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Candel Therapeutics by 15.2% in the fourth quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company's stock valued at $90,000 after acquiring an additional 1,375 shares during the period. 13.93% of the stock is owned by hedge funds and other institutional investors.

Candel Therapeutics Stock Up 6.7 %

NASDAQ:CADL traded up $0.32 during midday trading on Thursday, hitting $5.08. The stock had a trading volume of 1,033,819 shares, compared to its average volume of 1,462,768. Candel Therapeutics has a one year low of $3.79 and a one year high of $14.60. The company has a market capitalization of $239.91 million, a price-to-earnings ratio of -2.95 and a beta of -0.95. The stock has a 50-day moving average of $7.15 and a 200 day moving average of $6.76.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.17). On average, sell-side analysts anticipate that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Canaccord Genuity Group raised their price target on Candel Therapeutics from $20.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and issued a $19.00 price target on shares of Candel Therapeutics in a research report on Friday, April 11th. Citigroup initiated coverage on Candel Therapeutics in a research report on Thursday, February 20th. They set a "buy" rating and a $25.00 price objective on the stock. Finally, Bank of America assumed coverage on shares of Candel Therapeutics in a research report on Friday, February 7th. They set a "buy" rating and a $15.00 price objective on the stock.

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.