Sands Capital Ventures LLC lessened its stake in shares of Candel Therapeutics, Inc. (NASDAQ:CADL – Free Report) by 50.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 405,837 shares of the company’s stock after selling 405,900 shares during the period. Candel Therapeutics makes up approximately 0.8% of Sands Capital Ventures LLC’s portfolio, making the stock its 10th biggest position. Sands Capital Ventures LLC’s holdings in Candel Therapeutics were worth $2,516,000 at the end of the most recent reporting period.
Separately, Rhumbline Advisers bought a new position in Candel Therapeutics in the 2nd quarter valued at approximately $143,000. Institutional investors and hedge funds own 13.93% of the company’s stock.
Candel Therapeutics Price Performance
CADL stock opened at $7.54 on Friday. The company has a market capitalization of $224.36 million, a P/E ratio of -5.89 and a beta of -0.94. Candel Therapeutics, Inc. has a 52-week low of $0.66 and a 52-week high of $14.30. The company has a fifty day moving average price of $6.13 and a 200-day moving average price of $6.11. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.62 and a current ratio of 1.62.
Insiders Place Their Bets
In other news, CTO Seshu Tyagarajan sold 14,851 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $6.47, for a total transaction of $96,085.97. Following the completion of the sale, the chief technology officer now directly owns 146,049 shares in the company, valued at $944,937.03. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Charles Schoch sold 8,897 shares of Candel Therapeutics stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $5.97, for a total value of $53,115.09. Following the completion of the transaction, the insider now directly owns 72,404 shares of the company’s stock, valued at approximately $432,251.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Seshu Tyagarajan sold 14,851 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $6.47, for a total value of $96,085.97. Following the sale, the chief technology officer now owns 146,049 shares in the company, valued at approximately $944,937.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,783 shares of company stock worth $559,636. 41.60% of the stock is currently owned by insiders.
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.
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