Candel Therapeutics (NASDAQ:CADL) Given Buy Rating at HC Wainwright

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “buy” rating reissued by HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $19.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 126.46% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Canaccord Genuity Group assumed coverage on Candel Therapeutics in a report on Wednesday, February 19th. They set a “buy” rating and a $20.00 price objective on the stock. Citigroup began coverage on Candel Therapeutics in a research note on Thursday, February 20th. They issued a “buy” rating and a $25.00 price target on the stock. Finally, Bank of America started coverage on shares of Candel Therapeutics in a research note on Friday, February 7th. They set a “buy” rating and a $15.00 price objective for the company.

Candel Therapeutics Stock Performance

Shares of CADL opened at $8.39 on Wednesday. The company has a market capitalization of $272.51 million, a price-to-earnings ratio of -4.85 and a beta of -1.25. Candel Therapeutics has a 1 year low of $1.34 and a 1 year high of $14.60. The company’s 50 day simple moving average is $8.33 and its 200 day simple moving average is $6.70.

Insider Activity at Candel Therapeutics

In related news, insider William Garrett Nichols sold 13,935 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $4.56, for a total value of $63,543.60. Following the transaction, the insider now owns 100,547 shares in the company, valued at approximately $458,494.32. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Francesca Barone sold 13,673 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $8.22, for a total transaction of $112,392.06. Following the sale, the insider now owns 124,207 shares of the company’s stock, valued at approximately $1,020,981.54. This represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,856 shares of company stock worth $470,044. 41.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Candel Therapeutics

Hedge funds have recently modified their holdings of the stock. Baker BROS. Advisors LP purchased a new position in Candel Therapeutics in the 4th quarter worth approximately $25,884,000. Acorn Capital Advisors LLC purchased a new position in shares of Candel Therapeutics in the fourth quarter valued at $16,836,000. Braidwell LP acquired a new stake in Candel Therapeutics during the 4th quarter valued at $13,888,000. Portolan Capital Management LLC purchased a new stake in Candel Therapeutics during the 4th quarter worth $6,543,000. Finally, Halter Ferguson Financial Inc. lifted its holdings in Candel Therapeutics by 123.7% in the 4th quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company’s stock worth $5,914,000 after buying an additional 376,795 shares in the last quarter. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

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.