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

HC Wainwright restated their buy rating on shares of Candel Therapeutics (NASDAQ:CADL) in a research note published on Friday morning,Benzinga reports. The firm currently has a $19.00 target price on the stock.

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

Candel Therapeutics Stock Up 10.2 %

Shares of NASDAQ:CADL opened at $8.75 on Friday. The firm’s 50 day moving average price is $8.21 and its 200-day moving average price is $6.95. Candel Therapeutics has a twelve month low of $1.34 and a twelve month high of $14.60. The stock has a market capitalization of $284.17 million, a PE ratio of -5.06 and a beta of -1.29.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.17). Analysts expect that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Candel Therapeutics

In related news, CTO Seshu Tyagarajan sold 14,322 shares of the firm’s stock in a transaction 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 transaction, the chief technology officer now directly owns 96,790 shares of the company’s stock, valued at approximately $698,823.80. This trade represents a 12.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Francesca Barone sold 13,534 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total transaction of $97,715.48. Following the completion of the transaction, the insider now directly owns 110,673 shares of the company’s stock, valued at approximately $799,059.06. This trade represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,529 shares of company stock valued at $313,512 in the last three months. 41.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Baker BROS. Advisors LP purchased a new position in shares of Candel Therapeutics in the fourth quarter valued at $25,884,000. Acorn Capital Advisors LLC purchased a new position in shares of Candel Therapeutics in the fourth quarter valued at $16,836,000. Braidwell LP purchased a new position in shares of Candel Therapeutics in the fourth quarter valued at $13,888,000. Portolan Capital Management LLC purchased a new position in shares of Candel Therapeutics in the fourth quarter valued at $6,543,000. Finally, Halter Ferguson Financial Inc. lifted its position in Candel Therapeutics by 123.7% in the fourth quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company’s stock worth $5,914,000 after buying an additional 376,795 shares during the last quarter. 13.93% of the stock is owned by hedge funds and other 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.