Candel Therapeutics’ (CADL) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Candel Therapeutics (NASDAQ:CADL) in a report published on Wednesday morning,Benzinga reports. They currently have a $19.00 target price on the stock, up from their prior target price of $11.00. 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 Stock Performance

Shares of CADL opened at $8.75 on Wednesday. The stock has a 50-day moving average of $5.46 and a 200-day moving average of $6.05. Candel Therapeutics has a one year low of $1.06 and a one year high of $14.60. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $284.17 million, a PE ratio of -5.06 and a beta of -0.95.

Insider Transactions at Candel Therapeutics

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 20,392 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $4.56, for a total transaction of $92,987.52. Following the completion of the sale, the chief technology officer now directly owns 125,657 shares of the company’s stock, valued at approximately $572,995.92. The trade was a 13.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul B. Manning bought 1,250,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average cost 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 disclosure for this purchase can be found here. Insiders have sold 66,127 shares of company stock valued at $349,911 over the last ninety days. 41.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Candel Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in shares of Candel Therapeutics in the 2nd quarter worth about $31,000. FMR LLC purchased a new position in Candel Therapeutics in the third quarter valued at approximately $46,000. MetLife Investment Management LLC purchased a new stake in Candel Therapeutics in the third quarter worth $87,000. Atom Investors LP bought a new stake in shares of Candel Therapeutics in the third quarter valued at $103,000. Finally, Rhumbline Advisers bought a new position in shares of Candel Therapeutics during the 2nd quarter worth $143,000. 13.93% of the stock is owned by institutional investors.

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.