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

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $11.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 189.47% from the stock’s current price.

Candel Therapeutics Price Performance

CADL stock opened at $3.80 on Monday. The stock has a market capitalization of $121.90 million, a price-to-earnings ratio of -2.20 and a beta of -0.88. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.66. Candel Therapeutics has a 52-week low of $0.77 and a 52-week high of $14.30. The stock’s fifty day simple moving average is $6.06 and its 200-day simple moving average is $6.76.

Insider Buying and Selling at Candel Therapeutics

In other news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $6.02, for a total transaction of $90,300.00. Following the transaction, the insider now directly owns 929,873 shares in the company, valued at $5,597,835.46. This represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 31,800 shares of company stock worth $193,380 in the last 90 days. 41.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Candel Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of Candel Therapeutics in the 2nd quarter valued at $31,000. FMR LLC purchased a new position in shares of Candel Therapeutics in the 3rd quarter worth $46,000. MetLife Investment Management LLC purchased a new position in shares of Candel Therapeutics in the 3rd quarter worth $87,000. Atom Investors LP acquired a new position in Candel Therapeutics in the third quarter valued at $103,000. Finally, Rhumbline Advisers purchased a new stake in Candel Therapeutics during the second quarter valued at about $143,000. 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.