Candel Therapeutics, Inc. (NASDAQ:CADL – Get Free Report) shares rose 7.8% on Tuesday . The stock traded as high as $11.09 and last traded at $11.1660. Approximately 738,155 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 1,576,893 shares. The stock had previously closed at $10.36.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CADL. Citigroup decreased their price objective on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Cantor Fitzgerald began coverage on Candel Therapeutics in a research note on Monday, April 20th. They issued an “overweight” rating for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 target price on shares of Candel Therapeutics in a research report on Friday, March 13th. Zacks Research raised Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded Candel Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Candel Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.
Read Our Latest Report on CADL
Candel Therapeutics Trading Down 4.1%
Candel Therapeutics (NASDAQ:CADL – Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.16. As a group, equities analysts forecast that Candel Therapeutics, Inc. will post -0.97 earnings per share for the current year.
Insider Activity
In related news, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $10.02, for a total value of $70,140.00. Following the transaction, the chief technology officer owned 83,865 shares in the company, valued at approximately $840,327.30. This trade represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Francesca Barone sold 23,447 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $10.06, for a total transaction of $235,876.82. Following the sale, the insider owned 77,362 shares of the company’s stock, valued at approximately $778,261.72. This represents a 23.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.30% of the company’s stock.
Institutional Investors Weigh In On Candel Therapeutics
Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its holdings in shares of Candel Therapeutics by 128.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after acquiring an additional 4,439 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Candel Therapeutics by 361.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock valued at $49,000 after purchasing an additional 7,527 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Candel Therapeutics in the fourth quarter valued at about $51,000. ProShare Advisors LLC purchased a new position in Candel Therapeutics in the fourth quarter valued at about $59,000. Finally, Invesco Ltd. acquired a new position in shares of Candel Therapeutics during the first quarter worth about $59,000. Institutional investors and hedge funds own 13.93% of the company’s stock.
About Candel Therapeutics
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.
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