Candel Therapeutics (NASDAQ:CADL) Now Covered by Analysts at Bank of America

Equities researchers at Bank of America began coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a research report issued to clients and investors on Friday,Benzinga reports. The firm set a “buy” rating and a $15.00 price target on the stock. Bank of America‘s target price indicates a potential upside of 92.31% from the company’s previous close.

Separately, HC Wainwright restated a “buy” rating and issued a $19.00 price objective (up from $11.00) on shares of Candel Therapeutics in a research note on Wednesday, December 18th.

Candel Therapeutics Price Performance

NASDAQ:CADL opened at $7.80 on Friday. The firm has a market capitalization of $253.34 million, a price-to-earnings ratio of -4.51 and a beta of -1.25. Candel Therapeutics has a one year low of $1.21 and a one year high of $14.60. The business has a fifty day moving average price of $7.35 and a 200-day moving average price of $6.36.

Insider Buying and Selling

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 20,392 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $4.56, for a total transaction of $92,987.52. Following the completion of the transaction, the chief technology officer now owns 125,657 shares of the company’s stock, valued at $572,995.92. This represents a 13.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Garrett Nichols sold 13,935 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $4.56, for a total transaction of $63,543.60. Following the transaction, the insider now directly owns 100,547 shares of the company’s stock, valued at $458,494.32. This trade represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,856 shares of company stock valued at $470,044. Company insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FMR LLC bought a new position in shares of Candel Therapeutics in the 3rd quarter valued at about $46,000. MetLife Investment Management LLC bought a new position in shares of Candel Therapeutics in the 3rd quarter valued at about $87,000. Atom Investors LP bought a new position in shares of Candel Therapeutics in the 3rd quarter valued at about $103,000. Cubist Systematic Strategies LLC bought a new position in shares of Candel Therapeutics in the 2nd quarter valued at about $162,000. Finally, Rhumbline Advisers lifted its holdings in shares of Candel Therapeutics by 17.0% in the 4th quarter. Rhumbline Advisers now owns 26,272 shares of the company’s stock valued at $228,000 after acquiring an additional 3,817 shares during the last quarter. Institutional investors 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.