Insider Selling: Candel Therapeutics, Inc. (NASDAQ:CADL) Insider Sells 5,000 Shares of Stock

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

Candel Therapeutics Stock Down 2.3 %

CADL stock opened at $8.06 on Friday. The business’s fifty day moving average is $8.22 and its 200-day moving average is $7.01. The company has a market cap of $261.76 million, a P/E ratio of -4.66 and a beta of -1.29. Candel Therapeutics, Inc. has a twelve month low of $1.42 and a twelve month high of $14.60.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.17). Research analysts anticipate that Candel Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CADL shares. Canaccord Genuity Group increased their price target on Candel Therapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. 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 on the stock. Citigroup initiated coverage on Candel Therapeutics in a research report on Thursday, February 20th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Candel Therapeutics in a research report on Friday, March 14th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in shares of Candel Therapeutics by 17.0% in 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. Oppenheimer & Co. Inc. acquired a new stake in Candel Therapeutics during the 4th quarter worth $329,000. FMR LLC acquired a new stake in Candel Therapeutics during the 3rd quarter worth $46,000. Geode Capital Management LLC raised its stake in Candel Therapeutics by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after buying an additional 51,111 shares during the period. Finally, Barclays PLC raised its stake in Candel Therapeutics by 327.1% during the 3rd quarter. Barclays PLC now owns 28,688 shares of the company’s stock worth $199,000 after buying an additional 21,971 shares during the period. Institutional investors and hedge funds 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.