Candel Therapeutics (NASDAQ:CADL) Price Target Raised to $25.00

Candel Therapeutics (NASDAQ:CADL) had its price objective raised by Canaccord Genuity Group from $20.00 to $25.00 in a report published on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research firms also recently weighed in on CADL. Bank of America started coverage on shares of Candel Therapeutics in a report on Friday, February 7th. They issued a “buy” rating and a $15.00 target price for the company. Citigroup started coverage on shares of Candel Therapeutics in a report on Thursday, February 20th. They issued a “buy” rating and a $25.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Candel Therapeutics in a report on Wednesday.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL opened at $8.98 on Wednesday. Candel Therapeutics has a 1 year low of $1.34 and a 1 year high of $14.60. The company has a 50 day simple moving average of $8.35 and a 200-day simple moving average of $6.75. The company has a market capitalization of $291.63 million, a P/E ratio of -5.19 and a beta of -1.25.

Insider Buying and Selling at Candel Therapeutics

In other Candel Therapeutics news, Director Paul B. Manning purchased 1,250,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was bought at an average price of $6.00 per share, with a total value of $7,500,000.00. Following the transaction, the director now directly owns 1,303,752 shares of the company’s stock, valued at approximately $7,822,512. This represents a 2,325.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Francesca Barone sold 13,534 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total transaction of $97,715.48. Following the completion of the transaction, the insider now directly owns 110,673 shares of the company’s stock, valued at $799,059.06. This represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,529 shares of company stock valued at $313,512 in the last 90 days. Company insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in shares of Candel Therapeutics during the 4th quarter worth $30,000. Russell Investments Group Ltd. lifted its position in shares of Candel Therapeutics by 75.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock worth $33,000 after purchasing an additional 1,610 shares during the last quarter. FMR LLC purchased a new stake in shares of Candel Therapeutics during the 3rd quarter worth $46,000. MetLife Investment Management LLC purchased a new stake in shares of Candel Therapeutics during the 3rd quarter worth $87,000. Finally, Wells Fargo & Company MN lifted its position in shares of Candel Therapeutics by 63.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock worth $88,000 after purchasing an additional 3,935 shares during the last quarter. 13.93% of the stock is owned by hedge funds and other institutional investors.

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.