Candel Therapeutics (NASDAQ:CADL) Director Paul Manning Purchases 550,458 Shares

Candel Therapeutics, Inc. (NASDAQ:CADL) Director Paul Manning bought 550,458 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was purchased at an average cost of $5.45 per share, for a total transaction of $2,999,996.10. Following the transaction, the director owned 2,763,527 shares of the company’s stock, valued at $15,061,222.15. This trade represents a 24.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Candel Therapeutics Trading Down 0.6%

Shares of CADL traded down $0.03 during midday trading on Thursday, hitting $5.15. 1,356,404 shares of the stock were exchanged, compared to its average volume of 1,156,180. Candel Therapeutics, Inc. has a 52-week low of $4.25 and a 52-week high of $9.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.25 and a current ratio of 8.25. The stock has a fifty day simple moving average of $5.77 and a 200 day simple moving average of $5.50. The firm has a market cap of $282.74 million, a P/E ratio of -9.03 and a beta of -0.94.

Institutional Investors Weigh In On Candel Therapeutics

Several institutional investors have recently modified their holdings of the company. Acorn Capital Advisors LLC raised its holdings in Candel Therapeutics by 19.9% during the second quarter. Acorn Capital Advisors LLC now owns 2,580,517 shares of the company’s stock worth $13,057,000 after purchasing an additional 428,265 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Candel Therapeutics during the 2nd quarter worth approximately $126,000. Lido Advisors LLC purchased a new position in shares of Candel Therapeutics during the 3rd quarter worth approximately $307,000. BNP Paribas Financial Markets lifted its holdings in shares of Candel Therapeutics by 128.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after buying an additional 4,439 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Candel Therapeutics by 12.3% in the third quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after buying an additional 219,563 shares in the last quarter. 13.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CADL. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Zacks Research cut shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Stephens reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Candel Therapeutics in a research report on Monday, December 8th. Finally, Citigroup reduced their price objective on Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Candel Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $17.00.

About Candel Therapeutics

Candel Therapeutics (NASDAQ:CADL) is a clinical-stage immuno-oncology company focused on the development of next-generation oncolytic viral therapies designed to treat solid tumors. The company’s lead candidate, CAN-2409, is a locally administered, gene-delivered viral therapy engineered to selectively replicate in cancer cells and induce immunogenic cell death. Candel leverages proprietary virus engineering platforms to enhance tumor-specific replication and stimulate anti-tumor immune responses, aiming to improve outcomes for patients with high unmet medical needs.

In addition to its lead program, Candel’s pipeline includes CAN-3110, an oncolytic herpes simplex virus targeting recurrent high-grade glioma, and other novel viral constructs being explored for a variety of solid tumor indications.