Candel Therapeutics (NASDAQ:CADL) Earns Buy Rating from Analysts at Bank of America

Bank of America began coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $15.00 price target on the stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $19.00 target price (up previously from $11.00) on shares of Candel Therapeutics in a report on Wednesday, December 18th.

Candel Therapeutics Price Performance

Shares of CADL opened at $8.66 on Friday. The stock has a market capitalization of $281.28 million, a PE ratio of -5.01 and a beta of -1.25. The business’s fifty day moving average price is $7.43 and its 200 day moving average price is $6.37. Candel Therapeutics has a 12-month low of $1.21 and a 12-month high of $14.60.

Insider Buying and Selling at Candel Therapeutics

In related news, CTO Seshu Tyagarajan sold 14,322 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total value of $103,404.84. Following the sale, the chief technology officer now owns 96,790 shares of the company’s stock, valued at $698,823.80. This trade represents a 12.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Francesca Barone sold 13,534 shares of Candel Therapeutics stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total value of $97,715.48. Following the sale, the insider now directly owns 110,673 shares in the company, valued at approximately $799,059.06. This trade represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,856 shares of company stock worth $470,044. 41.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Candel Therapeutics by 11.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 52,190 shares of the company’s stock worth $453,000 after purchasing an additional 5,413 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Candel Therapeutics in the fourth quarter valued at $329,000. Rhumbline Advisers lifted its position in shares of Candel Therapeutics by 17.0% during the 4th quarter. Rhumbline Advisers now owns 26,272 shares of the company’s stock valued at $228,000 after acquiring an additional 3,817 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Candel Therapeutics by 54.1% during the 4th quarter. HB Wealth Management LLC now owns 87,300 shares of the company’s stock worth $696,000 after acquiring an additional 30,642 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Candel Therapeutics by 327.1% in the 3rd quarter. Barclays PLC now owns 28,688 shares of the company’s stock worth $199,000 after acquiring an additional 21,971 shares during the last quarter. Institutional investors 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.