Candel Therapeutics, Inc. (NASDAQ:CADL) Insider Sells $44,150.00 in Stock

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) insider Charles Schoch sold 5,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $8.83, for a total value of $44,150.00. Following the completion of the sale, the insider now owns 38,038 shares in the company, valued at approximately $335,875.54. The trade was a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Candel Therapeutics Trading Down 2.3 %

Shares of NASDAQ:CADL traded down $0.19 on Friday, reaching $8.06. The company had a trading volume of 2,512,356 shares, compared to its average volume of 2,686,195. Candel Therapeutics, Inc. has a 52-week low of $1.45 and a 52-week high of $14.60. The firm's 50 day simple moving average is $8.22 and its 200-day simple moving average is $7.02. The firm has a market capitalization of $261.76 million, a PE ratio of -4.66 and a beta of -1.29.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its quarterly 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, equities research analysts predict that Candel Therapeutics, Inc. will post -1.47 earnings per share for the current year.

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Wall Street Analyst Weigh In

Several research firms have commented on CADL. Citigroup began coverage on Candel Therapeutics in a report on Thursday, February 20th. They set a "buy" rating and a $25.00 price objective on the stock. HC Wainwright restated a "buy" rating and set a $19.00 price objective on shares of Candel Therapeutics in a report on Friday, March 14th. Bank of America began coverage on Candel Therapeutics in a report on Friday, February 7th. They set a "buy" rating and a $15.00 price objective on the stock. Finally, Canaccord Genuity Group raised their price objective on Candel Therapeutics from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in shares of Candel Therapeutics in the 4th quarter valued at $30,000. Russell Investments Group Ltd. boosted its position in shares of Candel Therapeutics by 75.1% in the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company's stock worth $33,000 after purchasing an additional 1,610 shares in the last quarter. FMR LLC acquired a new stake in shares of Candel Therapeutics in the 3rd quarter worth $46,000. Wells Fargo & Company MN boosted its position in shares of Candel Therapeutics by 63.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,122 shares of the company's stock worth $88,000 after purchasing an additional 3,935 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Candel Therapeutics by 15.2% in the 4th quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company's stock worth $90,000 after purchasing an additional 1,375 shares in the last quarter. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

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.