Insider Selling: Candel Therapeutics, Inc. (NASDAQ:CADL) CTO Sells $275,871.96 in Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) CTO Seshu Tyagarajan sold 31,278 shares of Candel Therapeutics stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.82, for a total transaction of $275,871.96. Following the transaction, the chief technology officer now directly owns 85,512 shares in the company, valued at approximately $754,215.84. This represents a 26.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Seshu Tyagarajan also recently made the following trade(s):

• On Wednesday, January 15th, Seshu Tyagarajan sold 14,322 shares of Candel Therapeutics stock. The stock was sold at an average price of $7.22, for a total transaction of $103,404.84.

Candel Therapeutics Trading Down 2.3 %

CADL opened at $8.06 on Friday. Candel Therapeutics, Inc. has a 12 month low of $1.42 and a 12 month high of $14.60. The firm’s fifty day simple moving average is $8.22 and its 200 day simple moving average is $7.01. The stock has a market capitalization of $261.76 million, a P/E ratio of -4.66 and a beta of -1.29.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.17). On average, equities research analysts predict that Candel Therapeutics, Inc. will post -1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Candel Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CADL. Baker BROS. Advisors LP acquired a new stake in Candel Therapeutics in the 4th quarter valued at $25,884,000. Acorn Capital Advisors LLC acquired a new stake in Candel Therapeutics in the 4th quarter valued at $16,836,000. Braidwell LP acquired a new stake in Candel Therapeutics in the 4th quarter valued at $13,888,000. Portolan Capital Management LLC acquired a new stake in Candel Therapeutics in the 4th quarter valued at $6,543,000. Finally, Halter Ferguson Financial Inc. increased its stake in Candel Therapeutics by 123.7% in the 4th quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company’s stock valued at $5,914,000 after buying an additional 376,795 shares during the last quarter. 13.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on CADL. Citigroup began coverage on shares of Candel Therapeutics in a research report on Thursday, February 20th. They issued a “buy” rating and a $25.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Candel Therapeutics in a research report on Friday, March 14th. Bank of America began coverage on shares of Candel Therapeutics in a research report on Friday, February 7th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Canaccord Genuity Group boosted their price objective on shares of Candel Therapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th.

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.