Bank of America Corp DE Buys 44,952 Shares of Candel Therapeutics, Inc. (NASDAQ:CADL)

Bank of America Corp DE grew its stake in Candel Therapeutics, Inc. (NASDAQ:CADL) by 205.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,811 shares of the company’s stock after acquiring an additional 44,952 shares during the quarter. Bank of America Corp DE owned 0.21% of Candel Therapeutics worth $580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rhumbline Advisers increased its position in shares of Candel Therapeutics by 17.0% in the 4th quarter. Rhumbline Advisers now owns 26,272 shares of the company’s stock valued at $228,000 after buying an additional 3,817 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Candel Therapeutics in the fourth quarter worth about $329,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Candel Therapeutics by 11.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 52,190 shares of the company’s stock worth $453,000 after acquiring an additional 5,413 shares in the last quarter. LPL Financial LLC bought a new stake in shares of Candel Therapeutics in the fourth quarter worth about $93,000. Finally, Northern Trust Corp increased its stake in Candel Therapeutics by 3.9% during the 4th quarter. Northern Trust Corp now owns 165,021 shares of the company’s stock worth $1,432,000 after purchasing an additional 6,250 shares in the last quarter. 13.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Canaccord Genuity Group increased their price objective on shares of Candel Therapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Candel Therapeutics in a research report on Friday, April 11th. Finally, Citigroup initiated coverage on shares of Candel Therapeutics in a research report on Thursday, February 20th. They set a “buy” rating and a $25.00 price objective for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Candel Therapeutics Stock Performance

NASDAQ:CADL opened at $5.85 on Wednesday. The company has a market cap of $293.10 million, a PE ratio of -3.38 and a beta of -0.87. Candel Therapeutics, Inc. has a 52-week low of $3.79 and a 52-week high of $14.60. The stock has a 50-day simple moving average of $5.15 and a 200 day simple moving average of $6.79.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.37. On average, research analysts predict that Candel Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

Insider Activity at Candel Therapeutics

In related news, insider Charles Schoch sold 5,000 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $8.83, for a total value of $44,150.00. Following the completion of the transaction, the insider now owns 38,038 shares of the company’s stock, valued at approximately $335,875.54. This trade represents a 11.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Seshu Tyagarajan sold 31,278 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $8.82, for a total transaction of $275,871.96. Following the completion of the transaction, the chief technology officer now directly owns 85,512 shares of the company’s stock, valued at approximately $754,215.84. This trade represents a 26.78% decrease in their position. The disclosure for this sale can be found here. 16.60% of the stock is owned by insiders.

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.