Candel Therapeutics (NASDAQ:CADL) Director Paul Manning Purchases 550,458 Shares of Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) Director Paul Manning bought 550,458 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were bought at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the completion of the transaction, the director directly owned 2,763,527 shares in the company, valued at approximately $15,061,222.15. This represents a 24.87% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL traded down $0.03 during midday trading on Thursday, hitting $5.15. The company had a trading volume of 1,356,404 shares, compared to its average volume of 1,156,180. The firm has a market capitalization of $282.74 million, a price-to-earnings ratio of -9.03 and a beta of -0.94. Candel Therapeutics, Inc. has a twelve month low of $4.25 and a twelve month high of $9.13. The business has a 50-day simple moving average of $5.77 and a two-hundred day simple moving average of $5.50. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CADL shares. Stephens reiterated an “overweight” rating and set a $15.00 target price on shares of Candel Therapeutics in a research report on Monday, December 8th. Wall Street Zen downgraded Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Zacks Research cut shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Wednesday, January 21st. Finally, Citigroup reduced their price target on shares of Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Institutional Trading of Candel Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CADL. BNP Paribas Financial Markets grew its stake in Candel Therapeutics by 128.2% during the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock worth $40,000 after buying an additional 4,439 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Candel Therapeutics by 361.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock valued at $49,000 after acquiring an additional 7,527 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Candel Therapeutics during the 4th quarter worth $51,000. Invesco Ltd. acquired a new stake in Candel Therapeutics in the 1st quarter valued at $59,000. Finally, ProShare Advisors LLC purchased a new position in Candel Therapeutics in the fourth quarter valued at about $59,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

Candel Therapeutics (NASDAQ:CADL) is a clinical-stage immuno-oncology company focused on the development of next-generation oncolytic viral therapies designed to treat solid tumors. The company’s lead candidate, CAN-2409, is a locally administered, gene-delivered viral therapy engineered to selectively replicate in cancer cells and induce immunogenic cell death. Candel leverages proprietary virus engineering platforms to enhance tumor-specific replication and stimulate anti-tumor immune responses, aiming to improve outcomes for patients with high unmet medical needs.

In addition to its lead program, Candel’s pipeline includes CAN-3110, an oncolytic herpes simplex virus targeting recurrent high-grade glioma, and other novel viral constructs being explored for a variety of solid tumor indications.