Seshu Tyagarajan Sells 7,000 Shares of Candel Therapeutics (NASDAQ:CADL) Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) CTO Seshu Tyagarajan sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $10.02, for a total transaction of $70,140.00. Following the completion of the sale, the chief technology officer owned 83,865 shares of the company’s stock, valued at approximately $840,327.30. The trade was a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Candel Therapeutics Trading Down 4.1%

NASDAQ:CADL traded down $0.42 during trading hours on Wednesday, reaching $9.88. 1,870,682 shares of the company were exchanged, compared to its average volume of 1,599,176. The company has a debt-to-equity ratio of 0.34, a current ratio of 28.05 and a quick ratio of 28.05. The firm has a market cap of $723.91 million, a price-to-earnings ratio of -10.08 and a beta of -0.49. Candel Therapeutics, Inc. has a 52-week low of $4.35 and a 52-week high of $11.36. The stock has a 50 day simple moving average of $8.19 and a 200 day simple moving average of $6.43.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings data 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. As a group, analysts predict that Candel Therapeutics, Inc. will post -0.97 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Candel Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CADL. Vanguard Group Inc. grew 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. Geode Capital Management LLC lifted its position in Candel Therapeutics by 31.5% during the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock worth $4,575,000 after acquiring an additional 216,509 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Candel Therapeutics during the 1st quarter worth approximately $845,000. Halter Ferguson Financial Inc. lifted its position in Candel Therapeutics by 20.9% during the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock worth $4,430,000 after acquiring an additional 155,996 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Candel Therapeutics in the 3rd quarter worth approximately $697,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

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.