Candel Therapeutics, Inc. (NASDAQ:CADL) Insider Sells $44,150.00 in Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) insider Charles Schoch sold 5,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $8.83, for a total value of $44,150.00. Following the completion of the sale, the insider now owns 38,038 shares of the company’s stock, valued at $335,875.54. This trade represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Candel Therapeutics Stock Down 7.3 %

NASDAQ CADL opened at $8.25 on Friday. The firm’s 50 day moving average is $8.22 and its 200-day moving average is $7.00. The company has a market capitalization of $267.93 million, a PE ratio of -4.77 and a beta of -1.29. Candel Therapeutics, Inc. has a 12-month low of $1.40 and a 12-month high of $14.60.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.17). As a group, sell-side analysts expect that Candel Therapeutics, Inc. will post -1.47 EPS for the current year.

Analyst Upgrades and Downgrades

CADL has been the subject of several research analyst reports. Bank of America initiated coverage on Candel Therapeutics in a research report on Friday, February 7th. They issued a “buy” rating and a $15.00 price objective for the company. Citigroup assumed coverage on shares of Candel Therapeutics in a research report on Thursday, February 20th. They set a “buy” rating and a $25.00 price objective for the company. Canaccord Genuity Group boosted their price objective on shares of Candel Therapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $19.00 target price on shares of Candel Therapeutics in a report on Friday, March 14th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. MetLife Investment Management LLC raised its stake in shares of Candel Therapeutics by 9.7% during the 4th quarter. MetLife Investment Management LLC now owns 13,773 shares of the company’s stock worth $120,000 after purchasing an additional 1,215 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Candel Therapeutics by 12.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,165 shares of the company’s stock worth $106,000 after buying an additional 1,340 shares during the last quarter. JPMorgan Chase & Co. raised its position in Candel Therapeutics by 15.2% during the fourth quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company’s stock worth $90,000 after acquiring an additional 1,375 shares in the last quarter. Russell Investments Group Ltd. lifted 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 acquiring an additional 1,610 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Candel Therapeutics by 3.0% in the 4th quarter. Nuveen Asset Management LLC now owns 68,226 shares of the company’s stock valued at $592,000 after acquiring an additional 2,009 shares during the period. 13.93% of the stock is owned by institutional investors and hedge funds.

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.