Insider Selling: Candel Therapeutics, Inc. (NASDAQ:CADL) CTO Sells 31,278 Shares of Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) CTO Seshu Tyagarajan sold 31,278 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $8.82, for a total transaction of $275,871.96. Following the transaction, the chief technology officer now owns 85,512 shares in the company, valued at $754,215.84. This represents a 26.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Seshu Tyagarajan also recently made the following trade(s):

• On Wednesday, January 15th, Seshu Tyagarajan sold 14,322 shares of Candel Therapeutics stock. The stock was sold at an average price of $7.22, for a total transaction of $103,404.84.

Candel Therapeutics Stock Performance

Shares of CADL opened at $8.06 on Friday. Candel Therapeutics, Inc. has a 52 week low of $1.42 and a 52 week high of $14.60. The firm has a market cap of $261.76 million, a P/E ratio of -4.66 and a beta of -1.29. The firm’s 50-day simple moving average is $8.22 and its 200 day simple moving average is $7.01.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.17). As a group, equities analysts forecast that Candel Therapeutics, Inc. will post -1.47 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CADL shares. Canaccord Genuity Group boosted their price objective on shares of Candel Therapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Bank of America started coverage on shares of Candel Therapeutics in a research note on Friday, February 7th. They set a “buy” rating and a $15.00 price objective on the stock. Citigroup started coverage on shares of Candel Therapeutics in a research note on Thursday, February 20th. They issued a “buy” rating and a $25.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Candel Therapeutics in a research note on Friday, March 14th.

Institutional Trading of Candel Therapeutics

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in Candel Therapeutics in the 4th quarter valued at about $30,000. Russell Investments Group Ltd. boosted its holdings in Candel Therapeutics by 75.1% in the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock valued at $33,000 after purchasing an additional 1,610 shares during the period. FMR LLC bought a new stake in Candel Therapeutics in the 3rd quarter valued at about $46,000. Wells Fargo & Company MN boosted its holdings in Candel Therapeutics by 63.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock valued at $88,000 after purchasing an additional 3,935 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in 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. 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.