HC Wainwright Reiterates Buy Rating for Candel Therapeutics (NASDAQ:CADL)

HC Wainwright reiterated their buy rating on shares of Candel Therapeutics (NASDAQ:CADL - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. HC Wainwright currently has a $19.00 price objective on the stock, up from their previous price objective of $11.00.

Candel Therapeutics Stock Down 1.1 %

Shares of Candel Therapeutics stock traded down $0.07 during trading hours on Wednesday, reaching $6.53. 4,732,863 shares of the company's stock were exchanged, compared to its average volume of 2,379,544. The stock has a market cap of $212.07 million, a P/E ratio of -3.77 and a beta of -0.95. The company has a 50 day moving average of $5.33 and a two-hundred day moving average of $6.02. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66. Candel Therapeutics has a fifty-two week low of $1.02 and a fifty-two week high of $14.60.

Insider Buying and Selling at Candel Therapeutics

In other Candel Therapeutics news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $6.02, for a total transaction of $90,300.00. Following the sale, the insider now directly owns 929,873 shares of the company's stock, valued at approximately $5,597,835.46. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul B. Manning purchased 1,250,000 shares of the business's stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $6.00 per share, with a total value of $7,500,000.00. Following the purchase, the director now owns 1,303,752 shares of the company's stock, 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. Insiders sold a total of 66,127 shares of company stock worth $349,911 over the last ninety days. 41.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Candel Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CADL. Point72 DIFC Ltd bought a new stake in Candel Therapeutics in the 2nd quarter valued at $31,000. FMR LLC acquired a new position in shares of Candel Therapeutics in the third quarter valued at $46,000. MetLife Investment Management LLC bought a new position in shares of Candel Therapeutics in the third quarter valued at about $87,000. Atom Investors LP acquired a new stake in shares of Candel Therapeutics during the 3rd quarter worth about $103,000. Finally, State Street Corp boosted its holdings in shares of Candel Therapeutics by 4.1% during the 3rd 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 during the period. 13.93% of the stock is 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.