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Insider Buying: Candel Therapeutics, Inc. (NASDAQ:CADL) Director Purchases 1,250,000 Shares of Stock

Candel Therapeutics logo with Medical background

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) Director Paul B. Manning purchased 1,250,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average cost of $6.00 per share, for a total transaction of $7,500,000.00. Following the completion of the acquisition, the director now directly owns 1,303,752 shares in the company, valued at $7,822,512. The trade was a 2,325.49 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Candel Therapeutics Trading Down 1.1 %

Shares of NASDAQ:CADL traded down $0.07 during midday trading on Wednesday, hitting $6.53. 4,732,863 shares of the stock were exchanged, compared to its average volume of 2,379,544. The business's 50-day moving average price is $5.33 and its 200 day moving average price is $6.02. Candel Therapeutics, Inc. has a 12 month low of $1.02 and a 12 month high of $14.60. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $212.07 million, a price-to-earnings ratio of -3.77 and a beta of -0.95.

Institutional Investors Weigh In On Candel Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new stake in shares of Candel Therapeutics in the second quarter valued at about $31,000. FMR LLC acquired a new stake in Candel Therapeutics during the 3rd quarter valued at approximately $46,000. MetLife Investment Management LLC acquired a new stake in Candel Therapeutics during the 3rd quarter valued at approximately $87,000. Atom Investors LP bought a new position in Candel Therapeutics during the 3rd quarter worth approximately $103,000. Finally, Rhumbline Advisers acquired a new position in shares of Candel Therapeutics in the 2nd quarter worth approximately $143,000. 13.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a "buy" rating and issued a $19.00 price target (up from $11.00) on shares of Candel Therapeutics in a research note on Wednesday.

Read Our Latest Research Report on CADL

Candel Therapeutics Company Profile

(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.

See Also

Insider Buying and Selling by Quarter for Candel Therapeutics (NASDAQ:CADL)

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