Geode Capital Management LLC Grows Stake in Candel Therapeutics, Inc. (NASDAQ:CADL)

Geode Capital Management LLC lifted its stake in shares of Candel Therapeutics, Inc. (NASDAQ:CADL) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 448,997 shares of the company’s stock after purchasing an additional 51,111 shares during the period. Geode Capital Management LLC’s holdings in Candel Therapeutics were worth $3,112,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in Candel Therapeutics during the second quarter valued at $338,000. Cubist Systematic Strategies LLC purchased a new position in shares of Candel Therapeutics during the 2nd quarter valued at $162,000. Rhumbline Advisers bought a new position in shares of Candel Therapeutics during the 2nd quarter worth $143,000. Barclays PLC increased its holdings in 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. Finally, State Street Corp raised its stake in Candel Therapeutics by 4.1% in the 3rd quarter. State Street Corp now owns 492,005 shares of the company’s stock valued at $3,410,000 after acquiring an additional 19,207 shares during the period. Institutional investors own 13.93% of the company’s stock.

Insider Activity at Candel Therapeutics

In other news, insider William Garrett Nichols sold 13,935 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $4.56, for a total transaction of $63,543.60. Following the completion of the transaction, the insider now directly owns 100,547 shares in the company, valued at $458,494.32. The trade was a 12.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul B. Manning acquired 1,250,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $6.00 per share, with a total value of $7,500,000.00. Following the purchase, the director now directly owns 1,303,752 shares of the company’s stock, valued at $7,822,512. This trade represents a 2,325.49 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 64,327 shares of company stock worth $337,581. 41.60% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Candel Therapeutics Trading Down 5.6 %

Shares of CADL stock opened at $8.70 on Tuesday. The stock has a market capitalization of $282.54 million, a price-to-earnings ratio of -5.03 and a beta of -1.20. The company’s fifty day simple moving average is $6.11 and its two-hundred day simple moving average is $6.15. Candel Therapeutics, Inc. has a 1 year low of $1.16 and a 1 year high of $14.60. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.18 and a quick ratio of 1.18.

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.