Candel Therapeutics, Inc. (NASDAQ:CADL) is seeing a significant increase in short interest

Candel Therapeutics, Inc. (NASDAQ:CADL – Get Free Report ) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 1,480,000 shares, an increase of 5.7% from the July 15th total of 1,400,000 shares. About 8.0% of the company’s shares are short sold. Based on an average trading volume of 650,800 shares, the short interest rate is currently 2.3 days.

Candel Therapeutics Stock Performance

Shares of CADL stock opened at $5.27 on Monday. The firm has a market cap of $156.81 million, a P/E ratio of -4.12 and a beta of -0.95. Candel Therapeutics has a 12-month low of $0.66 and a 12-month high of $14.30. The company has a debt-to-equity ratio of 1.66, a quick ratio of 2.00, and a current ratio of 2.00. The company’s 50-day moving average price is $6.15, and its two-hundred-day moving average price is $5.36.

Insider Buying and Selling at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 13,330 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $5.97, for a total value of $79,580.10. Following the transaction, the chief technology officer now directly owns 160,900 shares in the company, valued at approximately $960,573. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In related news, CTO Seshu Tyagarajan sold 13,330 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $5.97, for a total transaction of $79,580.10. Following the completion of the transaction, the chief technology officer now owns 160,900 shares in the company, valued at $960,573. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Also, CEO Paul Peter Tak sold 20,293 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $5.97, for a total transaction of $121,149.21. Following the completion of the sale, the chief executive officer now owns 353,263 shares in the company, valued at $2,108,980.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,783 shares of company stock worth $559,636. Insiders own 41.60% of the company’s shares.

Institutional investors are weighing in on Candel Therapeutics

Several institutional investors have recently added to or reduced their stakes in CADL. Point72 DIFC Ltd acquired a new stake in shares of Candel Therapeutics in the second quarter valued at approximately $31,000. Rhumbline Advisers bought a new position in shares of Candel Therapeutics in the second quarter valued at about $143,000. Cubist Systematic Strategies LLC acquired a new stake in Candel Therapeutics in the second quarter valued at about $162,000. Finally, Bank of New York Mellon Corp bought a new stake in Candel Therapeutics in the second quarter valued at about $338,000. 13.93% of shares are held by institutional investors.

About Candel Therapeutics

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Candel Therapeutics, Inc, a clinical-stage biopharmaceutical company, is engaged in the development of immunotherapies for cancer patients. It is developing 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 Phase Ib/II clinical trials for the treatment of high-grade glioma.

Further reading

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