Candel Therapeutics (NASDAQ:CADL) Receives “Buy” Rating from HC Wainwright

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $19.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 121.57% from the stock’s previous close.

A number of other equities research analysts have also commented on CADL. Citigroup began coverage on Candel Therapeutics in a research report on Thursday, February 20th. They set a “buy” rating and a $25.00 price target on the stock. Canaccord Genuity Group increased their price target on Candel Therapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Bank of America initiated coverage on shares of Candel Therapeutics in a research note on Friday, February 7th. They issued a “buy” rating and a $15.00 target price for the company.

Candel Therapeutics Price Performance

Shares of Candel Therapeutics stock traded up $0.64 during midday trading on Friday, hitting $8.58. 561,231 shares of the company were exchanged, compared to its average volume of 2,642,426. The firm has a 50 day simple moving average of $8.22 and a 200-day simple moving average of $6.92. The firm has a market cap of $278.48 million, a P/E ratio of -4.94 and a beta of -1.29. Candel Therapeutics has a 52 week low of $1.34 and a 52 week high of $14.60.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.17). Equities research analysts expect that Candel Therapeutics will post -1.47 earnings per share for the current year.

Insider Activity at Candel Therapeutics

In related news, insider Francesca Barone sold 13,534 shares of Candel Therapeutics stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $7.22, for a total transaction of $97,715.48. Following the completion of the sale, the insider now directly owns 110,673 shares of the company’s stock, valued at approximately $799,059.06. This trade represents a 10.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul B. Manning acquired 1,250,000 shares of the stock in a transaction on Monday, December 16th. The shares were purchased 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. This trade represents a 2,325.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 41,529 shares of company stock valued at $313,512. Insiders own 41.60% of the company’s stock.

Institutional Trading of Candel Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC lifted its holdings in shares of Candel Therapeutics by 86.6% in the fourth quarter. Squarepoint Ops LLC now owns 19,311 shares of the company’s stock worth $168,000 after acquiring an additional 8,962 shares during the last quarter. Nuveen Asset Management LLC increased its position in Candel Therapeutics by 3.0% during the 4th quarter. Nuveen Asset Management LLC now owns 68,226 shares of the company’s stock worth $592,000 after purchasing an additional 2,009 shares in the last quarter. Maven Securities LTD bought a new position in Candel Therapeutics in the 4th quarter valued at approximately $449,000. Millennium Management LLC boosted its position in Candel Therapeutics by 130.6% in the fourth quarter. Millennium Management LLC now owns 31,626 shares of the company’s stock valued at $275,000 after buying an additional 17,914 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Candel Therapeutics by 12.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,165 shares of the company’s stock worth $106,000 after buying an additional 1,340 shares during the last quarter. 13.93% of the stock is currently owned by institutional investors.

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.