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

HC Wainwright restated their buy rating on shares of Candel Therapeutics (NASDAQ:CADL) in a report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $19.00 target price on the stock. HC Wainwright also issued estimates for Candel Therapeutics’ FY2025 earnings at ($1.39) EPS.

Several other research analysts have also recently issued reports on the company. Canaccord Genuity Group assumed coverage on Candel Therapeutics in a research note on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price objective for the company. Bank of America assumed coverage on Candel Therapeutics in a research report on Friday, February 7th. They set a “buy” rating and a $15.00 price target for the company. Finally, Citigroup assumed coverage on Candel Therapeutics in a research report on Thursday, February 20th. They set a “buy” rating and a $25.00 price target for the company.

Candel Therapeutics Stock Up 4.4 %

Shares of NASDAQ:CADL opened at $8.98 on Wednesday. Candel Therapeutics has a 52-week low of $1.34 and a 52-week high of $14.60. The stock has a market cap of $291.63 million, a price-to-earnings ratio of -5.19 and a beta of -1.25. The business has a 50-day moving average price of $8.35 and a 200-day moving average price of $6.75.

Insider Activity at Candel Therapeutics

In other Candel Therapeutics news, Director Paul B. Manning acquired 1,250,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $6.00 per share, with a total value of $7,500,000.00. Following the completion of the acquisition, the director now owns 1,303,752 shares in the company, valued at approximately $7,822,512. This trade represents a 2,325.49 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Seshu Tyagarajan sold 14,322 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total value of $103,404.84. Following the completion of the sale, the chief technology officer now directly owns 96,790 shares in the company, valued at approximately $698,823.80. The trade was a 12.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,529 shares of company stock worth $313,512. 41.60% of the stock is owned by corporate insiders.

Institutional Trading of Candel Therapeutics

Several institutional investors have recently bought and sold shares of CADL. BNP Paribas Financial Markets acquired a new stake in shares of Candel Therapeutics in the fourth quarter worth approximately $30,000. Russell Investments Group Ltd. boosted its stake in shares of Candel Therapeutics by 75.1% in the fourth quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock worth $33,000 after acquiring an additional 1,610 shares during the last quarter. FMR LLC acquired a new stake in shares of Candel Therapeutics in the third quarter worth approximately $46,000. MetLife Investment Management LLC acquired a new stake in shares of Candel Therapeutics in the third quarter worth approximately $87,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Candel Therapeutics by 63.6% in 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. 13.93% of the stock is owned by institutional investors and hedge funds.

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.