Candel Therapeutics, Inc. (NASDAQ:CADL) CTO Seshu Tyagarajan Sells 31,278 Shares

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) CTO Seshu Tyagarajan sold 31,278 shares of the company's stock in a transaction dated Monday, March 17th. The stock was 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 approximately $754,215.84. This trade represents a 26.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Seshu Tyagarajan also recently made the following trade(s):

• On Wednesday, January 15th, Seshu Tyagarajan sold 14,322 shares of Candel Therapeutics stock. The stock was sold at an average price of $7.22, for a total transaction of $103,404.84.

Candel Therapeutics Stock Performance

Shares of CADL traded down $0.19 during mid-day trading on Friday, hitting $8.06. 2,512,356 shares of the company were exchanged, compared to its average volume of 2,686,195. Candel Therapeutics, Inc. has a 1-year low of $1.45 and a 1-year high of $14.60. The company has a 50 day moving average of $8.22 and a 200-day moving average of $7.02. The stock has a market cap of $261.76 million, a price-to-earnings ratio of -4.66 and a beta of -1.29.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last released its quarterly earnings results 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). Research analysts anticipate that Candel Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

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Wall Street Analyst Weigh In

Several research firms have recently issued reports on CADL. Bank of America began coverage on shares of Candel Therapeutics in a research note on Friday, February 7th. They set a "buy" rating and a $15.00 target price on the stock. HC Wainwright reissued a "buy" rating and set a $19.00 target price on shares of Candel Therapeutics in a research note on Friday, March 14th. Canaccord Genuity Group increased their target price 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. Finally, Citigroup started coverage on shares of Candel Therapeutics in a research report on Thursday, February 20th. They set a "buy" rating and a $25.00 price target for the company.

Institutional Trading of Candel Therapeutics

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in Candel Therapeutics in the 4th quarter valued at about $30,000. Russell Investments Group Ltd. raised its holdings in Candel Therapeutics by 75.1% in the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company's stock valued at $33,000 after acquiring an additional 1,610 shares during the last quarter. FMR LLC acquired a new stake in Candel Therapeutics in the 3rd quarter valued at about $46,000. MetLife Investment Management LLC acquired a new stake in Candel Therapeutics in the 3rd quarter valued at about $87,000. Finally, Wells Fargo & Company MN raised its holdings in Candel Therapeutics by 63.6% in 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 during the last quarter. Institutional investors and hedge funds own 13.93% of the company's stock.

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.