Canaccord Genuity Group Begins Coverage on Candel Therapeutics (NASDAQ:CADL)

Research analysts at Canaccord Genuity Group began coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a report issued on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $20.00 price target on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 110.08% from the company’s current price.

Several other equities analysts have also weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective (up from $11.00) on shares of Candel Therapeutics in a research note on Wednesday, December 18th. Bank of America began coverage on Candel Therapeutics in a research report on Friday, February 7th. They set a “buy” rating and a $15.00 price target on the stock.

Candel Therapeutics Price Performance

NASDAQ CADL opened at $9.52 on Wednesday. The firm has a market capitalization of $309.21 million, a P/E ratio of -5.50 and a beta of -1.25. Candel Therapeutics has a 1-year low of $1.34 and a 1-year high of $14.60. The business’s 50-day simple moving average is $8.00 and its 200-day simple moving average is $6.51.

Insider Buying and Selling

In other Candel Therapeutics news, insider Francesca Barone sold 13,534 shares of Candel Therapeutics stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $7.22, for a total transaction of $97,715.48. Following the sale, the insider now directly owns 110,673 shares in the company, valued at $799,059.06. The trade was a 10.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Garrett Nichols sold 13,935 shares of Candel Therapeutics stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $4.56, for a total value of $63,543.60. Following the sale, the insider now owns 100,547 shares in the company, valued at $458,494.32. This represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,856 shares of company stock valued at $470,044. Corporate insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CADL. Baker BROS. Advisors LP acquired a new position in Candel Therapeutics during the 4th quarter valued at approximately $25,884,000. Acorn Capital Advisors LLC acquired a new position in Candel Therapeutics during the 4th quarter worth $16,836,000. Braidwell LP acquired a new position in Candel Therapeutics during the 4th quarter worth $13,888,000. Portolan Capital Management LLC acquired a new position in Candel Therapeutics during the 4th quarter worth $6,543,000. Finally, Halter Ferguson Financial Inc. boosted its position in Candel Therapeutics by 123.7% during the 4th quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company’s stock worth $5,914,000 after acquiring an additional 376,795 shares during the period. Institutional investors and hedge funds 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.