Candel Therapeutics (NASDAQ:CADL) Now Covered by Analysts at Citigroup

Citigroup assumed coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $25.00 price objective on the stock.

A number of other analysts also recently issued reports on CADL. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price (up previously from $11.00) on shares of Candel Therapeutics in a research report on Wednesday, December 18th. Bank of America assumed coverage on Candel Therapeutics in a report on Friday, February 7th. They set a “buy” rating and a $15.00 price target for the company. Finally, Canaccord Genuity Group assumed coverage on Candel Therapeutics in a report on Wednesday. They set a “buy” rating and a $20.00 price target for the company.

Candel Therapeutics Stock Performance

NASDAQ:CADL opened at $12.21 on Thursday. The stock’s 50-day simple moving average is $8.10 and its 200 day simple moving average is $6.58. The company has a market cap of $396.58 million, a P/E ratio of -7.06 and a beta of -1.25. Candel Therapeutics has a 52-week low of $1.34 and a 52-week high of $14.60.

Insider Buying and Selling

In related 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 transaction of $97,715.48. Following the completion of the transaction, the insider now owns 110,673 shares in the company, valued at approximately $799,059.06. This trade represents a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Seshu Tyagarajan sold 14,322 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $7.22, for a total value of $103,404.84. Following the sale, the chief technology officer now owns 96,790 shares of the company’s stock, valued at approximately $698,823.80. This represents a 12.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,856 shares of company stock worth $470,044. Company insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

A number of institutional investors have recently made changes to their positions in CADL. Baker BROS. Advisors LP bought a new stake in shares of Candel Therapeutics during the fourth quarter worth approximately $25,884,000. Acorn Capital Advisors LLC bought a new stake in shares of Candel Therapeutics during the fourth quarter worth approximately $16,836,000. Braidwell LP bought a new stake in shares of Candel Therapeutics during the fourth quarter worth approximately $13,888,000. Portolan Capital Management LLC bought a new stake in shares of Candel Therapeutics during the fourth quarter worth approximately $6,543,000. Finally, Halter Ferguson Financial Inc. boosted its holdings in shares of Candel Therapeutics by 123.7% during the fourth quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company’s stock worth $5,914,000 after acquiring an additional 376,795 shares during the period. Institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

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.