Citigroup Begins Coverage on Candel Therapeutics (NASDAQ:CADL)

Analysts at Citigroup assumed coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a report issued on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $25.00 price target on the stock. Citigroup’s target price indicates a potential upside of 138.78% from the company’s current price.

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

Candel Therapeutics Stock Up 10.0 %

Shares of CADL opened at $10.47 on Thursday. The stock has a market capitalization of $340.07 million, a P/E ratio of -6.05 and a beta of -1.25. Candel Therapeutics has a twelve month low of $1.34 and a twelve month high of $14.60. The company has a 50 day moving average of $8.06 and a 200-day moving average of $6.54.

Insider Transactions at Candel Therapeutics

In related news, Director Paul B. Manning purchased 1,250,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average price of $6.00 per share, with a total value of $7,500,000.00. Following the completion of the purchase, the director now directly owns 1,303,752 shares in the company, valued at $7,822,512. This trade represents a 2,325.49 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Seshu Tyagarajan sold 14,322 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total value of $103,404.84. Following the completion of the transaction, the chief technology officer now directly owns 96,790 shares of the company’s stock, valued at approximately $698,823.80. This trade 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 valued at $470,044. 41.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CADL. Baker BROS. Advisors LP acquired a new position in Candel Therapeutics in the fourth quarter valued at about $25,884,000. Acorn Capital Advisors LLC acquired a new position in Candel Therapeutics in the fourth quarter valued at about $16,836,000. Braidwell LP acquired a new position in Candel Therapeutics in the fourth quarter valued at about $13,888,000. Portolan Capital Management LLC acquired a new position in Candel Therapeutics in the fourth quarter valued at about $6,543,000. Finally, Halter Ferguson Financial Inc. raised its stake in 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 in the last quarter. Institutional investors and hedge funds 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.