Candel Therapeutics (NASDAQ:CADL) Given Buy Rating at HC Wainwright

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $19.00 price target on the stock, up from their previous price target of $11.00. HC Wainwright’s target price points to a potential upside of 90.76% from the company’s previous close. 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 CADL stock opened at $9.96 on Wednesday. The stock’s fifty day simple moving average is $5.41 and its 200 day simple moving average is $6.05. Candel Therapeutics has a one year low of $1.02 and a one year high of $14.60. The firm has a market cap of $323.46 million, a price-to-earnings ratio of -5.76 and a beta of -0.95. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.18 and a quick ratio of 1.18.

Insider Transactions at Candel Therapeutics

In related news, insider William Garrett Nichols sold 13,935 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $4.56, for a total transaction of $63,543.60. Following the completion of the sale, the insider now directly owns 100,547 shares of the company’s stock, valued at $458,494.32. This trade represents a 12.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul B. Manning acquired 1,250,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $6.00 per share, with a total value of $7,500,000.00. Following the transaction, the director now owns 1,303,752 shares in the company, valued at approximately $7,822,512. The trade was a 2,325.49 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 66,127 shares of company stock valued at $349,911. 41.60% of the stock is owned by insiders.

Institutional Trading of Candel Therapeutics

Several large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new position in shares of Candel Therapeutics in the second quarter valued at about $338,000. Rhumbline Advisers acquired a new stake in Candel Therapeutics in the 2nd quarter valued at about $143,000. Point72 DIFC Ltd bought a new position in shares of Candel Therapeutics in the second quarter worth about $31,000. Cubist Systematic Strategies LLC acquired a new position in shares of Candel Therapeutics during the second quarter worth approximately $162,000. Finally, FMR LLC bought a new stake in shares of Candel Therapeutics during the third quarter valued at approximately $46,000. 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.