Investors Purchase High Volume of Candel Therapeutics Call Options (NASDAQ:CADL)

Candel Therapeutics, Inc. (NASDAQ:CADL) was the target of unusually large options trading activity on Thursday. Stock traders purchased 3,231 call options on the stock. This is an increase of 329% compared to the typical daily volume of 753 call options.

Candel Therapeutics Stock Down 31.1 %

CADL stock opened at $6.75 on Friday. Candel Therapeutics has a 52 week low of $1.02 and a 52 week high of $14.60. The stock has a market capitalization of $219.24 million, a P/E ratio of -3.90 and a beta of -0.95. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.66. The firm has a 50-day simple moving average of $5.32 and a 200-day simple moving average of $6.09.

Insiders Place Their Bets

In other news, CTO Seshu Tyagarajan sold 20,392 shares of Candel Therapeutics stock in a transaction on Friday, November 29th. The shares were sold at an average price of $4.56, for a total transaction of $92,987.52. Following the completion of the sale, the chief technology officer now directly owns 125,657 shares in the company, valued at approximately $572,995.92. The trade was a 13.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $6.05, for a total transaction of $90,750.00. Following the transaction, the insider now owns 944,873 shares of the company’s stock, valued at $5,716,481.65. This represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,127 shares of company stock valued at $349,911. 41.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Candel Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CADL. Point72 DIFC Ltd acquired a new position in Candel Therapeutics in the 2nd quarter valued at about $31,000. FMR LLC acquired a new position in Candel Therapeutics in the 3rd quarter valued at about $46,000. MetLife Investment Management LLC acquired a new position in Candel Therapeutics in the 3rd quarter valued at about $87,000. Atom Investors LP acquired a new position in Candel Therapeutics in the 3rd quarter valued at about $103,000. Finally, Rhumbline Advisers acquired a new position in Candel Therapeutics in the 2nd quarter valued at about $143,000. 13.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Candel Therapeutics in a research report on Monday, November 18th.

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.