Candel Therapeutics’ (CADL) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Candel Therapeutics (NASDAQ:CADL) in a research report released on Wednesday,Benzinga reports. HC Wainwright currently has a $19.00 price target on the stock, up from their prior price target of $11.00. HC Wainwright also issued estimates for Candel Therapeutics’ Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($1.59) EPS and FY2025 earnings at ($1.35) EPS.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL opened at $8.75 on Wednesday. The firm has a market capitalization of $284.17 million, a P/E ratio of -5.06 and a beta of -0.95. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.66. The stock’s 50-day simple moving average is $5.46 and its two-hundred day simple moving average is $6.05. Candel Therapeutics has a twelve month low of $1.06 and a twelve month high of $14.60.

Insider Transactions at Candel Therapeutics

In other Candel Therapeutics news, Director Paul B. Manning purchased 1,250,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $6.00 per share, with a total value of $7,500,000.00. Following the completion of the purchase, the director now owns 1,303,752 shares of the company’s stock, valued at $7,822,512. The trade was a 2,325.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of Candel Therapeutics stock in a transaction on Friday, October 11th. The stock was sold at an average price of $6.05, for a total transaction of $90,750.00. Following the completion of the transaction, the insider now owns 944,873 shares in the company, valued at approximately $5,716,481.65. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,127 shares of company stock valued at $349,911 in the last quarter. Insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CADL. Point72 DIFC Ltd bought a new stake in shares of Candel Therapeutics in the 2nd quarter valued at about $31,000. FMR LLC bought a new stake in Candel Therapeutics in the third quarter valued at approximately $46,000. MetLife Investment Management LLC purchased a new stake in shares of Candel Therapeutics during the third quarter valued at approximately $87,000. Atom Investors LP bought a new position in shares of Candel Therapeutics in the third quarter worth approximately $103,000. Finally, Rhumbline Advisers purchased a new position in shares of Candel Therapeutics in the second quarter worth $143,000. 13.93% of the stock is owned by institutional investors.

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.