Insider Buying: Candel Therapeutics, Inc. (NASDAQ:CADL) Director Purchases 1,250,000 Shares of Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) Director Paul B. Manning acquired 1,250,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $6.00 per share, for a total transaction of $7,500,000.00. Following the completion of the acquisition, the director now directly owns 1,303,752 shares in the company, valued at approximately $7,822,512. The trade was a 2,325.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Candel Therapeutics Stock Performance

Candel Therapeutics stock traded down $0.09 during mid-day trading on Wednesday, reaching $6.51. 4,146,766 shares of the company’s stock were exchanged, compared to its average volume of 2,373,467. The firm has a market capitalization of $211.42 million, a PE ratio of -3.76 and a beta of -0.95. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.66. The business’s fifty day simple moving average is $5.32 and its 200 day simple moving average is $6.02. Candel Therapeutics, Inc. has a one year low of $1.02 and a one year high of $14.60.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $19.00 price target (up from $11.00) on shares of Candel Therapeutics in a report on Wednesday.

Hedge Funds Weigh In On Candel Therapeutics

Several institutional investors have recently added to or reduced their stakes in CADL. State Street Corp boosted its stake in Candel Therapeutics by 4.1% in the third quarter. State Street Corp now owns 492,005 shares of the company’s stock valued at $3,410,000 after acquiring an additional 19,207 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Candel Therapeutics by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after purchasing an additional 51,111 shares during the period. Bank of New York Mellon Corp purchased a new position in Candel Therapeutics in the second quarter valued at approximately $338,000. Barclays PLC grew its holdings in Candel Therapeutics by 327.1% during the third quarter. Barclays PLC now owns 28,688 shares of the company’s stock valued at $199,000 after purchasing an additional 21,971 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Candel Therapeutics in the second quarter worth $162,000. 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.