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

Candel Therapeutics, Inc. (NASDAQ:CADL) Director Paul Manning purchased 550,458 shares of Candel Therapeutics stock in a transaction dated Monday, February 23rd. The stock was bought at an average price of $5.45 per share, with a total value of $2,999,996.10. Following the completion of the transaction, the director owned 2,763,527 shares of the company’s stock, valued at $15,061,222.15. This represents a 24.87% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Candel Therapeutics Stock Up 1.9%

Shares of NASDAQ CADL opened at $5.25 on Friday. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 0.01. The company has a market cap of $288.23 million, a P/E ratio of -9.21 and a beta of -0.94. Candel Therapeutics, Inc. has a 52 week low of $4.25 and a 52 week high of $9.13. The business has a 50-day simple moving average of $5.76 and a two-hundred day simple moving average of $5.50.

Institutional Investors Weigh In On Candel Therapeutics

Large investors have recently added to or reduced their stakes in the company. Acorn Capital Advisors LLC lifted its stake in Candel Therapeutics by 19.9% during the second quarter. Acorn Capital Advisors LLC now owns 2,580,517 shares of the company’s stock worth $13,057,000 after purchasing an additional 428,265 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Candel Therapeutics by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after buying an additional 219,563 shares in the last quarter. Geode Capital Management LLC lifted its position in Candel Therapeutics by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 977,512 shares of the company’s stock worth $5,524,000 after buying an additional 49,315 shares during the last quarter. State Street Corp lifted its position in Candel Therapeutics by 15.0% in the 4th quarter. State Street Corp now owns 792,218 shares of the company’s stock worth $4,476,000 after buying an additional 103,452 shares during the last quarter. Finally, Halter Ferguson Financial Inc. grew its position in Candel Therapeutics by 7.2% during the fourth quarter. Halter Ferguson Financial Inc. now owns 748,055 shares of the company’s stock valued at $4,227,000 after acquiring an additional 50,051 shares during the last quarter. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.