Portolan Capital Management LLC Invests $6.54 Million in Candel Therapeutics, Inc. (NASDAQ:CADL)

Portolan Capital Management LLC bought a new position in shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 753,745 shares of the company's stock, valued at approximately $6,543,000. Portolan Capital Management LLC owned approximately 2.32% of Candel Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in CADL. FMR LLC acquired a new position in Candel Therapeutics in the 3rd quarter valued at about $46,000. State Street Corp increased its holdings in shares of Candel Therapeutics by 4.1% in the third quarter. State Street Corp now owns 492,005 shares of the company's stock valued at $3,410,000 after purchasing an additional 19,207 shares during the period. Barclays PLC raised its stake in shares of Candel Therapeutics by 327.1% during the third quarter. Barclays PLC now owns 28,688 shares of the company's stock worth $199,000 after purchasing an additional 21,971 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Candel Therapeutics by 12.8% during the third quarter. Geode Capital Management LLC now owns 448,997 shares of the company's stock worth $3,112,000 after purchasing an additional 51,111 shares during the period. Finally, HB Wealth Management LLC grew its position in Candel Therapeutics by 54.1% in the 4th quarter. HB Wealth Management LLC now owns 87,300 shares of the company's stock valued at $696,000 after buying an additional 30,642 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company's stock.

Insider Buying and Selling at Candel Therapeutics

In related news, insider Charles Schoch sold 5,000 shares of Candel Therapeutics stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $44,150.00. Following the sale, the insider now directly owns 38,038 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, CTO Seshu Tyagarajan sold 31,278 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.82, for a total transaction of $275,871.96. Following the completion of the transaction, the chief technology officer now owns 85,512 shares of the company's stock, valued at $754,215.84. This trade represents a 26.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 41.60% of the stock is currently owned by company insiders.

Candel Therapeutics Trading Up 0.9 %

NASDAQ CADL traded up $0.04 during mid-day trading on Friday, reaching $4.57. 533,867 shares of the company's stock traded hands, compared to its average volume of 1,455,771. The company has a fifty day simple moving average of $7.47 and a 200-day simple moving average of $6.82. Candel Therapeutics, Inc. has a 1-year low of $3.79 and a 1-year high of $14.60. The company has a market cap of $215.86 million, a price-to-earnings ratio of -2.64 and a beta of -0.95.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.17). Equities research analysts forecast that Candel Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CADL. Citigroup began coverage on shares of Candel Therapeutics in a research note on Thursday, February 20th. They issued a "buy" rating and a $25.00 target price for the company. Bank of America initiated coverage on Candel Therapeutics in a report on Friday, February 7th. They issued a "buy" rating and a $15.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $19.00 price target on shares of Candel Therapeutics in a research note on Friday, April 11th. Finally, Canaccord Genuity Group increased their price target on shares of Candel Therapeutics from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th.

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.