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

HC Wainwright reaffirmed their buy rating on shares of Candel Therapeutics (NASDAQ:CADL) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $19.00 price target on the stock, up from their prior price target of $11.00.

Candel Therapeutics Stock Up 17.5 %

CADL stock traded up $1.14 during midday trading on Wednesday, reaching $7.67. 2,536,626 shares of the company’s stock traded hands, compared to its average volume of 2,378,738. Candel Therapeutics has a 52 week low of $1.02 and a 52 week high of $14.60. The company has a market cap of $249.09 million, a price-to-earnings ratio of -4.43 and a beta of -0.95. The firm’s fifty day moving average price is $5.33 and its 200-day moving average price is $6.02. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.66.

Insider Buying and Selling at Candel Therapeutics

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 20,392 shares of Candel Therapeutics stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $4.56, for a total transaction of $92,987.52. Following the transaction, the chief technology officer now owns 125,657 shares of the company’s stock, valued at $572,995.92. This trade represents a 13.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul B. Manning bought 1,250,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $6.00 per share, with a total value of $7,500,000.00. Following the completion of the transaction, the director now owns 1,303,752 shares in the company, valued at approximately $7,822,512. The trade was a 2,325.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 66,127 shares of company stock worth $349,911. Insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CADL. Barclays PLC lifted its holdings in Candel Therapeutics by 327.1% during the 3rd quarter. Barclays PLC now owns 28,688 shares of the company’s stock worth $199,000 after purchasing an additional 21,971 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Candel Therapeutics by 12.8% in the third quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after buying an additional 51,111 shares in the last quarter. State Street Corp lifted its holdings in shares of Candel Therapeutics by 4.1% in the third quarter. State Street Corp now owns 492,005 shares of the company’s stock worth $3,410,000 after buying an additional 19,207 shares in the last quarter. Atom Investors LP bought a new position in shares of Candel Therapeutics in the third quarter valued at approximately $103,000. Finally, MetLife Investment Management LLC purchased a new position in Candel Therapeutics during 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.