Candel Therapeutics (NASDAQ:CADL) Insider Sells $235,876.82 in Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) insider Francesca Barone sold 23,447 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $10.06, for a total value of $235,876.82. Following the completion of the sale, the insider directly owned 77,362 shares of the company’s stock, valued at $778,261.72. This trade represents a 23.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Candel Therapeutics Price Performance

Shares of NASDAQ:CADL opened at $9.83 on Friday. The company has a quick ratio of 28.05, a current ratio of 28.05 and a debt-to-equity ratio of 0.34. Candel Therapeutics, Inc. has a twelve month low of $4.35 and a twelve month high of $11.36. The stock’s 50 day moving average is $8.35 and its 200-day moving average is $6.50. The firm has a market capitalization of $720.24 million, a price-to-earnings ratio of -10.03 and a beta of -0.52.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.16. Sell-side analysts forecast that Candel Therapeutics, Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CADL. Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of Candel Therapeutics in a research report on Friday, March 13th. Citigroup cut their price target on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Cantor Fitzgerald assumed coverage on Candel Therapeutics in a report on Monday, April 20th. They set an “overweight” rating for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Monday, April 20th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Institutional Trading of Candel Therapeutics

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in shares of Candel Therapeutics by 128.2% in the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after purchasing an additional 4,439 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Candel Therapeutics by 361.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after purchasing an additional 7,527 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Candel Therapeutics during the fourth quarter worth about $51,000. ProShare Advisors LLC bought a new stake in Candel Therapeutics in the 4th quarter worth about $59,000. Finally, Invesco Ltd. bought a new stake in Candel Therapeutics in the 1st quarter worth about $59,000. Institutional investors own 13.93% of the company’s stock.

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.