Candel Therapeutics (NASDAQ:CADL) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Candel Therapeutics (NASDAQ:CADL) in a report issued on Wednesday,Benzinga reports. They currently have a $19.00 price target on the stock, up from their prior price target of $11.00.

Candel Therapeutics Price Performance

Candel Therapeutics stock traded up $1.14 during mid-day trading on Wednesday, reaching $7.67. 2,536,626 shares of the company were exchanged, compared to its average volume of 2,378,738. The company has a fifty day simple moving average of $5.33 and a 200-day simple moving average of $6.02. The firm has a market cap of $249.09 million, a PE ratio of -4.43 and a beta of -0.95. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.18 and a quick ratio of 1.18. Candel Therapeutics has a 12 month low of $1.02 and a 12 month high of $14.60.

Insider Transactions at Candel Therapeutics

In other news, insider William Garrett Nichols sold 13,935 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $4.56, for a total transaction of $63,543.60. Following the completion of the transaction, the insider now owns 100,547 shares of the company’s stock, valued at approximately $458,494.32. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul B. Manning purchased 1,250,000 shares of Candel Therapeutics stock in a transaction on Monday, December 16th. The stock was bought at an average price of $6.00 per share, for a total transaction of $7,500,000.00. Following the transaction, the director now directly owns 1,303,752 shares in the company, valued at approximately $7,822,512. The trade was a 2,325.49 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 66,127 shares of company stock valued at $349,911. Corporate insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Several large investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in Candel Therapeutics during the 2nd quarter worth about $338,000. Geode Capital Management LLC boosted its holdings in shares of Candel Therapeutics by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after buying an additional 51,111 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Candel Therapeutics during the 2nd quarter worth approximately $162,000. Rhumbline Advisers bought a new stake in shares of Candel Therapeutics in the 2nd quarter valued at $143,000. Finally, Barclays PLC lifted its position in shares of Candel Therapeutics by 327.1% during the 3rd quarter. Barclays PLC now owns 28,688 shares of the company’s stock valued at $199,000 after acquiring an additional 21,971 shares during the period. 13.93% of the stock is currently owned by institutional investors and hedge funds.

About Candel Therapeutics

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.