Bank of New York Mellon Corp Has $343,000 Stock Position in Candel Therapeutics, Inc. (NASDAQ:CADL)

Bank of New York Mellon Corp increased its position in shares of Candel Therapeutics, Inc. (NASDAQ:CADL) by 35.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,759 shares of the company’s stock after buying an additional 15,779 shares during the quarter. Bank of New York Mellon Corp owned about 0.13% of Candel Therapeutics worth $343,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in Candel Therapeutics during the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. increased its holdings in Candel Therapeutics by 75.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock worth $33,000 after purchasing an additional 1,610 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Candel Therapeutics by 63.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock worth $88,000 after purchasing an additional 3,935 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Candel Therapeutics by 15.2% during the 4th quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company’s stock worth $90,000 after purchasing an additional 1,375 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in Candel Therapeutics during the 4th quarter worth approximately $93,000. 13.93% of the stock is owned by institutional investors and hedge funds.

Candel Therapeutics Stock Performance

CADL stock opened at $6.31 on Tuesday. The firm has a market cap of $316.15 million, a PE ratio of -4.71 and a beta of -0.89. The company has a quick ratio of 4.64, a current ratio of 4.64 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $5.76 and a 200-day moving average of $6.39. Candel Therapeutics, Inc. has a 12-month low of $3.79 and a 12-month high of $14.60.

Candel Therapeutics (NASDAQ:CADL) last released its earnings results on Tuesday, May 13th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.37. As a group, sell-side analysts expect that Candel Therapeutics, Inc. will post -1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CADL. HC Wainwright raised Candel Therapeutics to a “buy” rating and set a $23.00 price objective for the company in a report on Monday, June 30th. Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Brookline Capital Management raised Candel Therapeutics to a “strong-buy” rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $22.00.

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.