Candel Therapeutics’ (CADL) “Buy” Rating Reaffirmed at HC Wainwright

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $19.00 price target on the stock, up from their previous price target of $11.00. HC Wainwright’s price objective would suggest a potential upside of 187.88% from the company’s previous close.

Candel Therapeutics Stock Performance

Shares of CADL stock opened at $6.60 on Wednesday. The company has a market capitalization of $214.34 million, a price-to-earnings ratio of -3.82 and a beta of -0.95. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.18. Candel Therapeutics has a 52 week low of $1.02 and a 52 week high of $14.60. The company has a 50-day simple moving average of $5.32 and a 200 day simple moving average of $6.02.

Insider Activity at Candel Therapeutics

In related news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of Candel Therapeutics stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $6.05, for a total value of $90,750.00. Following the transaction, the insider now directly owns 944,873 shares of the company’s stock, valued at $5,716,481.65. This trade represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $63,543.60. Following the completion of the sale, the insider now directly owns 100,547 shares in the company, valued at approximately $458,494.32. This represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,127 shares of company stock worth $349,911 in the last ninety days. 41.60% of the stock is owned by company insiders.

Institutional Trading of Candel Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CADL. Barclays PLC lifted its stake in shares of Candel Therapeutics by 327.1% in 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 last quarter. Geode Capital Management LLC increased its holdings in Candel Therapeutics by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after purchasing an additional 51,111 shares in the last quarter. State Street Corp raised its position in Candel Therapeutics by 4.1% in the third quarter. State Street Corp now owns 492,005 shares of the company’s stock valued at $3,410,000 after purchasing an additional 19,207 shares during the last quarter. Atom Investors LP acquired a new stake in shares of Candel Therapeutics during the third quarter valued at about $103,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Candel Therapeutics in the third quarter valued at approximately $87,000. 13.93% of the stock is currently owned by 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.