Candel Therapeutics (NASDAQ:CADL) Now Covered by Analysts at Citigroup

Citigroup started coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a research report released on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $25.00 price target on the stock.

A number of other equities research analysts also recently commented on the company. Bank of America started coverage on Candel Therapeutics in a research report on Friday, February 7th. They set a “buy” rating and a $15.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $19.00 price target (up previously from $11.00) on shares of Candel Therapeutics in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group started coverage on Candel Therapeutics in a report on Wednesday. They set a “buy” rating and a $20.00 price objective on the stock.

Candel Therapeutics Price Performance

CADL stock opened at $11.63 on Thursday. The firm has a market cap of $377.74 million, a PE ratio of -6.72 and a beta of -1.25. Candel Therapeutics has a 12 month low of $1.34 and a 12 month high of $14.60. The firm has a 50 day simple moving average of $8.20 and a 200 day simple moving average of $6.64.

Insider Activity at Candel Therapeutics

In other news, Director Paul B. Manning acquired 1,250,000 shares of Candel Therapeutics stock in a transaction on Monday, December 16th. The stock was bought at an average price of $6.00 per share, for a total transaction of $7,500,000.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Seshu Tyagarajan sold 20,392 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $4.56, for a total value of $92,987.52. Following the sale, the chief technology officer now owns 125,657 shares in the company, valued at approximately $572,995.92. This represents a 13.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,856 shares of company stock worth $470,044 in the last 90 days. 41.60% of the stock is owned by company insiders.

Institutional Trading of Candel Therapeutics

Several institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in Candel Therapeutics during the fourth quarter worth about $30,000. Russell Investments Group Ltd. lifted its position in shares of Candel Therapeutics by 75.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock worth $33,000 after buying an additional 1,610 shares during the period. FMR LLC acquired a new stake in Candel Therapeutics in the 3rd quarter valued at $46,000. Wells Fargo & Company MN grew its position in Candel Therapeutics by 63.6% in the fourth quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock valued at $88,000 after acquiring an additional 3,935 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Candel Therapeutics by 15.2% in the fourth quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company’s stock valued at $90,000 after acquiring an additional 1,375 shares during the period. 13.93% of the stock is currently owned by institutional investors and hedge funds.

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.