HC Wainwright reaffirmed their buy rating on shares of Candel Therapeutics (NASDAQ:CADL - Free Report) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $19.00 price objective on the stock.
Several other brokerages have also weighed in on CADL. Canaccord Genuity Group boosted their price objective on Candel Therapeutics from $20.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Bank of America started coverage on Candel Therapeutics in a report on Friday, February 7th. They issued a "buy" rating and a $15.00 price objective for the company. Finally, Citigroup started coverage on Candel Therapeutics in a report on Thursday, February 20th. They issued a "buy" rating and a $25.00 price objective for the company.
Check Out Our Latest Stock Report on CADL
Candel Therapeutics Stock Performance
Shares of NASDAQ CADL traded down $0.01 during midday trading on Friday, reaching $8.82. 745,080 shares of the company's stock were exchanged, compared to its average volume of 2,659,933. Candel Therapeutics has a 52-week low of $1.40 and a 52-week high of $14.60. The stock has a market capitalization of $286.44 million, a PE ratio of -5.10 and a beta of -1.29. The business's fifty day moving average price is $8.23 and its two-hundred day moving average price is $6.98.
Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced 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). Analysts predict that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.
Insider Activity
In related news, CTO Seshu Tyagarajan sold 14,322 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 $698,823.80. This represents a 12.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Francesca Barone sold 13,673 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $8.22, for a total value of $112,392.06. Following the completion of the transaction, the insider now directly owns 124,207 shares of the company's stock, valued at $1,020,981.54. This trade represents a 9.92 % 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 valued at $313,512. 41.60% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Candel Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CADL. BNP Paribas Financial Markets bought a new position in Candel Therapeutics in the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. boosted its stake 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 purchasing an additional 1,610 shares in the last quarter. FMR LLC bought a new position in Candel Therapeutics during the 3rd quarter valued at $46,000. MetLife Investment Management LLC bought a new position in Candel Therapeutics during the 3rd quarter valued at $87,000. Finally, Wells Fargo & Company MN boosted its stake in Candel Therapeutics by 63.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,122 shares of the company's stock valued at $88,000 after purchasing an additional 3,935 shares in the last quarter. 13.93% of the stock is owned by institutional investors.
Candel Therapeutics Company Profile
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Get Free Report)
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.
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