Canaccord Genuity Group Issues Positive Forecast for Candel Therapeutics (NASDAQ:CADL) Stock Price

Candel Therapeutics (NASDAQ:CADL) had its price objective upped by research analysts at Canaccord Genuity Group from $20.00 to $25.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 184.90% from the stock’s current price.

CADL has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Candel Therapeutics in a report on Wednesday. Bank of America started coverage on Candel Therapeutics in a report on Friday, February 7th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Citigroup assumed coverage on shares of Candel Therapeutics in a research note on Thursday, February 20th. They set a “buy” rating and a $25.00 target price on the stock.

Candel Therapeutics Trading Up 4.6 %

CADL traded up $0.39 during trading on Wednesday, hitting $8.78. 839,473 shares of the company’s stock were exchanged, compared to its average volume of 1,373,165. Candel Therapeutics has a 1 year low of $1.34 and a 1 year high of $14.60. The firm has a market cap of $284.98 million, a P/E ratio of -5.07 and a beta of -1.25. The stock has a 50 day moving average price of $8.33 and a 200 day moving average price of $6.70.

Insider Buying and Selling at Candel Therapeutics

In related news, insider William Garrett Nichols sold 13,935 shares of Candel Therapeutics stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $4.56, for a total value of $63,543.60. Following the completion of the transaction, the insider now owns 100,547 shares in the company, valued at approximately $458,494.32. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Francesca Barone sold 13,673 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $8.22, for a total transaction of $112,392.06. Following the completion of the transaction, the insider now directly owns 124,207 shares of the company’s stock, valued at $1,020,981.54. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,856 shares of company stock valued at $470,044 in the last quarter. 41.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Candel Therapeutics

Hedge funds have recently bought and sold shares of the business. Baker BROS. Advisors LP purchased a new stake in shares of Candel Therapeutics in the 4th quarter valued at approximately $25,884,000. Acorn Capital Advisors LLC acquired a new position in shares of Candel Therapeutics in the 4th quarter worth approximately $16,836,000. Braidwell LP purchased a new stake in Candel Therapeutics in the fourth quarter valued at approximately $13,888,000. Portolan Capital Management LLC purchased a new stake in Candel Therapeutics during the fourth quarter worth about $6,543,000. Finally, Halter Ferguson Financial Inc. increased its stake in Candel Therapeutics by 123.7% in the fourth quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company’s stock valued at $5,914,000 after purchasing an additional 376,795 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

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.