Candel Therapeutics, Inc. (NASDAQ:CADL) Sees Significant Growth in Short Interest

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 160,900 shares, a growth of 9.2% from the March 15th total of 147,300 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 3,880,000 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in Candel Therapeutics during the 2nd quarter worth about $2,408,000. Vanguard Group Inc. grew its stake in shares of Candel Therapeutics by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 425,749 shares of the company's stock valued at $626,000 after purchasing an additional 21,680 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Candel Therapeutics by 15.5% in the first quarter. BlackRock Inc. now owns 132,322 shares of the company's stock valued at $674,000 after purchasing an additional 17,708 shares in the last quarter. Citigroup Inc. bought a new position in Candel Therapeutics in the 2nd quarter worth approximately $149,000. Finally, Renaissance Technologies LLC acquired a new position in Candel Therapeutics during the 1st quarter worth $28,000. Institutional investors own 13.93% of the company's stock.

Candel Therapeutics Price Performance

NASDAQ:CADL traded down $0.84 on Monday, reaching $5.82. The stock had a trading volume of 2,195,069 shares, compared to its average volume of 4,565,083. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $170.82 million, a P/E ratio of -4.48 and a beta of 0.92. Candel Therapeutics has a 1-year low of $0.66 and a 1-year high of $11.40. The stock has a fifty day moving average price of $2.33 and a 200-day moving average price of $1.52.

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.