Candel Therapeutics (NASDAQ:CADL) Given New $25.00 Price Target at Canaccord Genuity Group

Candel Therapeutics (NASDAQ:CADL) had its price target increased by Canaccord Genuity Group from $20.00 to $25.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 184.90% from the company’s previous close.

Several other brokerages also recently commented on CADL. Citigroup started coverage on shares of Candel Therapeutics in a research note on Thursday, February 20th. They issued a “buy” rating and a $25.00 target price for the company. Bank of America began coverage on shares of Candel Therapeutics in a research note on Friday, February 7th. They set a “buy” rating and a $15.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $19.00 target price on shares of Candel Therapeutics in a report on Wednesday.

Candel Therapeutics Trading Up 4.6 %

Shares of CADL traded up $0.39 during mid-day trading on Wednesday, hitting $8.78. 839,473 shares of the company traded hands, compared to its average volume of 1,373,165. The business has a 50-day moving average of $8.33 and a 200 day moving average of $6.70. Candel Therapeutics has a one year low of $1.34 and a one year high of $14.60. The stock has a market capitalization of $284.98 million, a price-to-earnings ratio of -5.07 and a beta of -1.25.

Insider Activity

In other news, insider Francesca Barone sold 13,673 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $8.22, for a total transaction of $112,392.06. Following the transaction, the insider now directly owns 124,207 shares of the company’s stock, valued at approximately $1,020,981.54. The trade was a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Garrett Nichols sold 13,935 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $4.56, for a total transaction of $63,543.60. Following the transaction, the insider now owns 100,547 shares in the company, valued at $458,494.32. This represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,856 shares of company stock valued at $470,044 over the last quarter. Company insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. FMR LLC bought a new stake in shares of Candel Therapeutics in the 3rd quarter worth $46,000. Geode Capital Management LLC boosted its position in shares of Candel Therapeutics by 12.8% in the third quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after purchasing an additional 51,111 shares during the period. Barclays PLC raised its stake in Candel Therapeutics by 327.1% during the 3rd quarter. Barclays PLC now owns 28,688 shares of the company’s stock valued at $199,000 after purchasing an additional 21,971 shares during the period. State Street Corp grew its position in shares of Candel Therapeutics by 4.1% during the third quarter. State Street Corp now owns 492,005 shares of the company’s stock valued at $3,410,000 after purchasing an additional 19,207 shares in the last quarter. Finally, HB Wealth Management LLC lifted its position in Candel Therapeutics by 54.1% during the fourth quarter. HB Wealth Management LLC now owns 87,300 shares of the company’s stock valued at $696,000 after purchasing an additional 30,642 shares during the last quarter. 13.93% of the stock is owned by hedge funds and other institutional investors.

Candel Therapeutics Company Profile

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.