Candel Therapeutics (NASDAQ:CADL) Now Covered by Analysts at Bank of America

Stock analysts at Bank of America began coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. Bank of America‘s price objective indicates a potential upside of 92.31% from the company’s current price.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective (up from $11.00) on shares of Candel Therapeutics in a research note on Wednesday, December 18th.

Candel Therapeutics Trading Down 2.9 %

NASDAQ:CADL opened at $7.80 on Friday. The stock has a market cap of $253.34 million, a P/E ratio of -4.51 and a beta of -1.25. The stock’s 50-day moving average is $7.35 and its 200-day moving average is $6.36. Candel Therapeutics has a 1-year low of $1.21 and a 1-year high of $14.60.

Insiders Place Their Bets

In related news, insider Francesca Barone sold 13,534 shares of Candel Therapeutics stock in a transaction on 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 sale, the insider now owns 110,673 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Seshu Tyagarajan sold 14,322 shares of Candel Therapeutics stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total value of $103,404.84. Following the sale, the chief technology officer now directly owns 96,790 shares of the company’s stock, valued at $698,823.80. This represents a 12.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,856 shares of company stock valued at $470,044 over the last ninety days. 41.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Candel Therapeutics

Large investors have recently added to or reduced their stakes in the company. FMR LLC purchased a new position in shares of Candel Therapeutics in the third quarter worth about $46,000. MetLife Investment Management LLC purchased a new position in shares of Candel Therapeutics in the third quarter worth about $87,000. Atom Investors LP purchased a new position in shares of Candel Therapeutics in the third quarter worth about $103,000. Cubist Systematic Strategies LLC purchased a new position in Candel Therapeutics during the 2nd quarter valued at about $162,000. Finally, Rhumbline Advisers increased its holdings in Candel Therapeutics by 17.0% during the 4th quarter. Rhumbline Advisers now owns 26,272 shares of the company’s stock valued at $228,000 after purchasing an additional 3,817 shares during the period. 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.