Candel Therapeutics, Inc. (NASDAQ:CADL) Director Acquires 1,250,000 Shares

Candel Therapeutics, Inc. (NASDAQ:CADL) Director Paul B. Manning acquired 1,250,000 shares of Candel Therapeutics stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average price of $6.00 per share, with a total value of $7,500,000.00. Following the purchase, the director now directly owns 1,303,752 shares of the company’s stock, valued at approximately $7,822,512. This trade represents a 2,325.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Candel Therapeutics Stock Performance

NASDAQ CADL opened at $8.75 on Friday. The business has a 50 day moving average price of $5.46 and a 200 day moving average price of $6.05. The company has a market capitalization of $284.17 million, a P/E ratio of -5.06 and a beta of -0.95. Candel Therapeutics, Inc. has a 1-year low of $1.06 and a 1-year high of $14.60. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.18 and a quick ratio of 1.18.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CADL. State Street Corp boosted its position in shares of Candel Therapeutics by 4.1% in the 3rd quarter. State Street Corp now owns 492,005 shares of the company’s stock worth $3,410,000 after buying an additional 19,207 shares in the last quarter. Geode Capital Management LLC raised its position in Candel Therapeutics by 12.8% during the third quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after acquiring an additional 51,111 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Candel Therapeutics in the second quarter valued at about $338,000. Barclays PLC grew its position in shares of Candel Therapeutics by 327.1% in the third 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 last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Candel Therapeutics during the 2nd quarter worth approximately $162,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $19.00 target price (up from $11.00) on shares of Candel Therapeutics in a research report on Wednesday.

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.