Candel Therapeutics (NASDAQ:CADL) Now Covered by Analysts at Bank of America

Bank of America initiated coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a research note published on Friday morning, MarketBeat reports. The brokerage issued a buy rating and a $15.00 price objective on the stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $19.00 target price (up from $11.00) on shares of Candel Therapeutics in a research note on Wednesday, December 18th.

Candel Therapeutics Stock Performance

CADL stock opened at $8.66 on Friday. The company has a 50 day moving average price of $7.43 and a two-hundred day moving average price of $6.37. The stock has a market capitalization of $281.28 million, a P/E ratio of -5.01 and a beta of -1.25. Candel Therapeutics has a one year low of $1.21 and a one year high of $14.60.

Insiders Place Their Bets

In other Candel Therapeutics news, insider Francesca Barone sold 13,534 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total transaction of $97,715.48. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Garrett Nichols sold 13,935 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $4.56, for a total transaction of $63,543.60. Following the completion of the transaction, the insider now directly owns 100,547 shares in the company, valued at approximately $458,494.32. This represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,856 shares of company stock valued at $470,044 over the last quarter. Company insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new position in Candel Therapeutics during the 2nd quarter worth approximately $162,000. FMR LLC acquired a new position in shares of Candel Therapeutics during the third quarter worth $46,000. MetLife Investment Management LLC purchased a new position in shares of Candel Therapeutics in the third quarter valued at $87,000. Atom Investors LP acquired a new stake in Candel Therapeutics during the 3rd quarter valued at $103,000. Finally, State Street Corp lifted its holdings in Candel Therapeutics by 4.1% in the 3rd quarter. State Street Corp now owns 492,005 shares of the company’s stock worth $3,410,000 after buying an additional 19,207 shares in the last quarter. Hedge funds and other institutional investors 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.