Candel Therapeutics (NASDAQ:CADL) Given Buy Rating at HC Wainwright

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $19.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 282.29% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of Candel Therapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Bank of America started coverage on shares of Candel Therapeutics in a report on Friday, February 7th. They set a “buy” rating and a $15.00 price target for the company. Finally, Citigroup began coverage on Candel Therapeutics in a report on Thursday, February 20th. They issued a “buy” rating and a $25.00 price objective on the stock.

Candel Therapeutics Stock Up 4.2 %

CADL opened at $4.97 on Friday. Candel Therapeutics has a 52 week low of $3.79 and a 52 week high of $14.60. The business has a 50 day moving average price of $7.75 and a two-hundred day moving average price of $6.88. The company has a market cap of $234.76 million, a PE ratio of -2.87 and a beta of -0.95.

Candel Therapeutics (NASDAQ:CADL) last released its earnings results on Thursday, March 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.17). As a group, sell-side analysts expect that Candel Therapeutics will post -1.47 EPS for the current fiscal year.

Insider Transactions at Candel Therapeutics

In related news, insider Charles Schoch sold 5,000 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $44,150.00. Following the sale, the insider now owns 38,038 shares of the company’s stock, valued at approximately $335,875.54. The trade was a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Seshu Tyagarajan sold 31,278 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.82, for a total transaction of $275,871.96. Following the completion of the transaction, the chief technology officer now directly owns 85,512 shares of the company’s stock, valued at approximately $754,215.84. This trade represents a 26.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,134 shares of company stock valued at $521,142 in the last ninety days. 41.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Candel Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of Candel Therapeutics in the fourth quarter valued at $30,000. Russell Investments Group Ltd. increased its holdings in Candel Therapeutics by 75.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock valued at $33,000 after acquiring an additional 1,610 shares in the last quarter. FMR LLC acquired a new position in Candel Therapeutics during the third quarter worth about $46,000. Wells Fargo & Company MN raised its position in Candel Therapeutics by 63.6% during the fourth quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock worth $88,000 after acquiring an additional 3,935 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Candel Therapeutics by 15.2% in the fourth quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company’s stock valued at $90,000 after purchasing an additional 1,375 shares in the last quarter. 13.93% of the stock is owned by institutional investors and hedge funds.

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.