Candel Therapeutics, Inc. (NASDAQ:CADL – Get Rating) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 51,000 shares, an increase of 38.6% from the November 30th total of 36,800 shares. Currently, 0.6% of the company's stock are sold short. Based on an average trading volume of 42,600 shares, the short-interest ratio is presently 1.2 days.
Institutional Trading of Candel Therapeutics
Several hedge funds have recently bought and sold shares of CADL. BlackRock Inc. lifted its position in Candel Therapeutics by 15.5% in the 1st quarter. BlackRock Inc. now owns 132,322 shares of the company's stock valued at $674,000 after purchasing an additional 17,708 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Candel Therapeutics in the 2nd quarter valued at about $2,408,000. Finally, Citadel Advisors LLC bought a new stake in Candel Therapeutics in the 3rd quarter valued at about $53,000. 21.05% of the stock is currently owned by institutional investors.
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Analyst Upgrades and Downgrades
Several research analysts have weighed in on CADL shares. HC Wainwright assumed coverage on shares of Candel Therapeutics in a report on Friday, December 2nd. They set a "buy" rating and a $11.00 price objective for the company. Credit Suisse Group decreased their price target on shares of Candel Therapeutics from $10.00 to $8.00 and set an "outperform" rating for the company in a report on Wednesday, December 7th.
Candel Therapeutics Trading Up 7.8 %
NASDAQ CADL opened at $1.79 on Monday. Candel Therapeutics has a one year low of $1.40 and a one year high of $8.10. The company has a 50-day simple moving average of $1.76 and a 200-day simple moving average of $2.74. The company has a debt-to-equity ratio of 0.40, a quick ratio of 13.41 and a current ratio of 13.41. The firm has a market capitalization of $51.72 million, a PE ratio of -4.26 and a beta of 0.18.
Candel Therapeutics (NASDAQ:CADL – Get Rating) last posted its quarterly earnings results on Thursday, November 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.23. The business had revenue of $0.03 million during the quarter. On average, equities analysts forecast that Candel Therapeutics will post -1.28 earnings per share for the current year.
About Candel Therapeutics
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Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. The company 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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