Candel Therapeutics (NASDAQ:CADL) Coverage Initiated at Citigroup

Citigroup started coverage on shares of Candel Therapeutics (NASDAQ:CADL - Free Report) in a research note published on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $25.00 price target on the stock.

CADL has been the topic of several other reports. Canaccord Genuity Group assumed coverage on Candel Therapeutics in a research report on Wednesday, February 19th. They issued a "buy" rating and a $20.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and set a $19.00 target price (up from $11.00) on shares of Candel Therapeutics in a report on Wednesday, December 18th. Finally, Bank of America assumed coverage on Candel Therapeutics in a report on Friday, February 7th. They issued a "buy" rating and a $15.00 price target for the company.

Candel Therapeutics Stock Down 5.6 %

Shares of CADL stock traded down $0.65 during mid-day trading on Thursday, reaching $10.98. The company's stock had a trading volume of 1,140,697 shares, compared to its average volume of 1,321,359. The firm has a market capitalization of $356.66 million, a PE ratio of -6.35 and a beta of -1.25. The company's 50 day simple moving average is $8.20 and its 200-day simple moving average is $6.65. Candel Therapeutics has a 12-month low of $1.34 and a 12-month high of $14.60.

Insider Buying and Selling

In related news, CTO Seshu Tyagarajan sold 20,392 shares of Candel Therapeutics stock in a transaction on Friday, November 29th. The shares were sold at an average price of $4.56, for a total value of $92,987.52. Following the completion of the sale, the chief technology officer now owns 125,657 shares in the company, valued at approximately $572,995.92. The trade was a 13.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Francesca Barone sold 13,534 shares of the company'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 sale, the insider now directly owns 110,673 shares in the company, valued at $799,059.06. This represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,856 shares of company stock worth $470,044. 41.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CADL. BNP Paribas Financial Markets bought a new position in shares of Candel Therapeutics during the fourth quarter worth about $30,000. Russell Investments Group Ltd. lifted its holdings in Candel Therapeutics by 75.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company's stock worth $33,000 after buying an additional 1,610 shares during the last quarter. FMR LLC acquired a new position in shares of Candel Therapeutics in the 3rd quarter worth approximately $46,000. MetLife Investment Management LLC acquired a new position in shares of Candel Therapeutics in the 3rd quarter worth approximately $87,000. Finally, Wells Fargo & Company MN raised its position in shares of 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 acquiring an additional 3,935 shares in 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.