Candel Therapeutics, Inc. (NASDAQ:CADL – Get Free Report) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 2,640,000 shares, a drop of 9.6% from the January 15th total of 2,920,000 shares. Currently, 8.2% of the shares of the company are short sold. Based on an average daily trading volume, of 3,710,000 shares, the days-to-cover ratio is currently 0.7 days.
Analysts Set New Price Targets
Several brokerages recently issued reports on CADL. Bank of America began coverage on Candel Therapeutics in a research report on Friday, February 7th. They set a “buy” rating and a $15.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $19.00 price objective (up from $11.00) on shares of Candel Therapeutics in a research report on Wednesday, December 18th.
Read Our Latest Research Report on Candel Therapeutics
Insider Buying and Selling
Institutional Trading of Candel Therapeutics
Several institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC grew its stake in shares of Candel Therapeutics by 86.6% during the 4th quarter. Squarepoint Ops LLC now owns 19,311 shares of the company’s stock valued at $168,000 after buying an additional 8,962 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Candel Therapeutics by 3.0% during the 4th quarter. Nuveen Asset Management LLC now owns 68,226 shares of the company’s stock valued at $592,000 after buying an additional 2,009 shares during the period. Maven Securities LTD purchased a new stake in shares of Candel Therapeutics during the 4th quarter valued at $449,000. Millennium Management LLC grew its stake in shares of Candel Therapeutics by 130.6% during the 4th quarter. Millennium Management LLC now owns 31,626 shares of the company’s stock valued at $275,000 after buying an additional 17,914 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Candel Therapeutics by 12.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,165 shares of the company’s stock valued at $106,000 after buying an additional 1,340 shares during the period. 13.93% of the stock is owned by hedge funds and other institutional investors.
Candel Therapeutics Stock Performance
CADL stock opened at $9.52 on Wednesday. The stock has a market capitalization of $309.21 million, a P/E ratio of -5.50 and a beta of -1.25. Candel Therapeutics has a one year low of $1.34 and a one year high of $14.60. The company has a 50 day moving average price of $8.00 and a two-hundred day moving average price of $6.51.
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.
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