Heights Capital Management Inc. Invests $260,000 in Candel Therapeutics, Inc. (NASDAQ:CADL)

Heights Capital Management Inc. bought a new stake in Candel Therapeutics, Inc. (NASDAQ:CADL) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 30,000 shares of the company’s stock, valued at approximately $260,000. Heights Capital Management Inc. owned about 0.09% of Candel Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CADL. MetLife Investment Management LLC increased its stake in shares of Candel Therapeutics by 9.7% in the fourth quarter. MetLife Investment Management LLC now owns 13,773 shares of the company’s stock worth $120,000 after purchasing an additional 1,215 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Candel Therapeutics by 15.2% in the 4th quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company’s stock valued at $90,000 after purchasing an additional 1,375 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Candel Therapeutics by 75.1% during the fourth quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock valued at $33,000 after acquiring an additional 1,610 shares during the period. Rhumbline Advisers increased its position in shares of Candel Therapeutics by 17.0% during the 4th quarter. Rhumbline Advisers now owns 26,272 shares of the company’s stock worth $228,000 after purchasing an additional 3,817 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Candel Therapeutics by 63.6% during the fourth quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock worth $88,000 after buying an additional 3,935 shares in the last quarter. Institutional investors and hedge funds own 13.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. 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. Canaccord Genuity Group increased their price objective on Candel Therapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Candel Therapeutics in a research note on Friday, April 11th. Finally, Citigroup initiated coverage on Candel Therapeutics in a research note on Thursday, February 20th. They issued a “buy” rating and a $25.00 target price on the stock.

Candel Therapeutics Stock Performance

Shares of CADL opened at $4.57 on Monday. The stock has a 50 day simple moving average of $7.40 and a 200 day simple moving average of $6.80. Candel Therapeutics, Inc. has a 52-week low of $3.79 and a 52-week high of $14.60. The firm has a market capitalization of $215.86 million, a PE ratio of -2.64 and a beta of -0.95.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.17). Equities research analysts predict that Candel Therapeutics, Inc. will post -1.47 EPS for the current fiscal year.

Insider Activity

In other news, CTO Seshu Tyagarajan sold 31,278 shares of Candel Therapeutics stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.82, for a total value of $275,871.96. Following the sale, the chief technology officer now directly owns 85,512 shares in the company, valued at $754,215.84. This trade represents a 26.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Schoch sold 5,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $44,150.00. Following the transaction, the insider now owns 38,038 shares of the company’s stock, valued at $335,875.54. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 41.60% of the company’s stock.

Candel Therapeutics 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.