HC Wainwright Reaffirms “Buy” Rating for Candel Therapeutics (NASDAQ:CADL)

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $11.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 189.47% from the stock’s previous close.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL opened at $3.80 on Monday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market cap of $121.90 million, a PE ratio of -2.20 and a beta of -0.88. The stock has a fifty day moving average price of $6.06 and a 200 day moving average price of $6.76. Candel Therapeutics has a 1-year low of $0.77 and a 1-year high of $14.30.

Insider Transactions at Candel Therapeutics

In other news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $6.02, for a total value of $90,300.00. Following the completion of the transaction, the insider now owns 929,873 shares in the company, valued at $5,597,835.46. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 31,800 shares of company stock valued at $193,380. Corporate insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in Candel Therapeutics in the 2nd quarter valued at about $31,000. FMR LLC purchased a new stake in shares of Candel Therapeutics in the third quarter valued at about $46,000. MetLife Investment Management LLC acquired a new stake in shares of Candel Therapeutics in the third quarter valued at approximately $87,000. Atom Investors LP purchased a new position in shares of Candel Therapeutics during the 3rd quarter worth approximately $103,000. Finally, Rhumbline Advisers acquired a new position in shares of Candel Therapeutics during the 2nd quarter worth approximately $143,000. Institutional investors and hedge funds own 13.93% of the company’s stock.

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.