Candel Therapeutics (NASDAQ:CADL) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Candel Therapeutics (NASDAQ:CADL) in a report published on Friday,Benzinga reports. HC Wainwright currently has a $19.00 price target on the stock.

CADL has been the subject of several other reports. Citigroup started coverage on Candel Therapeutics in a research report on Thursday, February 20th. They set a “buy” rating and a $25.00 target price for the company. Canaccord Genuity Group lifted their target price on Candel Therapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Bank of America started coverage on Candel Therapeutics in a research report on Friday, February 7th. They set a “buy” rating and a $15.00 target price for the company.

Candel Therapeutics Stock Up 10.2 %

Shares of CADL opened at $8.75 on Friday. The company has a market cap of $284.17 million, a PE ratio of -5.06 and a beta of -1.29. The business has a fifty day moving average of $8.21 and a 200 day moving average of $6.95. Candel Therapeutics has a 52-week low of $1.34 and a 52-week high of $14.60.

Candel Therapeutics (NASDAQ:CADL) last released its 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). As a group, research analysts anticipate that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.

Insider Activity at Candel Therapeutics

In other Candel Therapeutics news, insider Francesca Barone sold 13,534 shares of Candel Therapeutics stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $7.22, for a total value of $97,715.48. Following the transaction, the insider now owns 110,673 shares in the company, valued at $799,059.06. The trade was a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Seshu Tyagarajan sold 14,322 shares of Candel Therapeutics stock in a transaction dated Wednesday, January 15th. The shares were 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 owns 96,790 shares in the company, valued at $698,823.80. This trade represents a 12.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,529 shares of company stock worth $313,512 over the last three months. 41.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Candel Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new position in Candel Therapeutics in the fourth quarter valued at about $30,000. Russell Investments Group Ltd. grew its stake in Candel Therapeutics by 75.1% in the fourth 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 during the last quarter. FMR LLC purchased a new position in Candel Therapeutics in the third quarter valued at about $46,000. Wells Fargo & Company MN grew its stake in Candel Therapeutics by 63.6% in the fourth 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 during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Candel Therapeutics by 15.2% in the fourth quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company’s stock valued at $90,000 after purchasing an additional 1,375 shares during the last quarter. Hedge funds and other institutional investors 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.