How Is The Market Feeling About Candel Therapeutics?
Portfolio Pulse from Benzinga Insights
Candel Therapeutics (NYSE:CADL) has seen a 7.89% increase in its short percent of float, now at 0.82% of all shares available for trading. With 160 thousand shares sold short, it would take about 4.49 days to cover these positions. This rise in short interest indicates a more bearish market sentiment towards CADL, although it has less short interest compared to its peers, with the average being 8.28%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting more on a decline.
April 19, 2024 | 4:00 pm
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Candel Therapeutics has experienced a 7.89% increase in short interest, indicating a bearish market sentiment. However, its short interest is below the peer average, suggesting a relatively stronger position.
The increase in short interest for CADL suggests that traders are more bearish on the stock, potentially leading to downward pressure on its price in the short term. However, being below the peer average in short interest could mitigate some negative impact, indicating that while there is bearish sentiment, CADL might be in a relatively better position compared to its peers.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100