Charles Schoch Sells 5,000 Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) insider Charles Schoch sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was 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 directly owns 38,038 shares in the company, valued at $335,875.54. The trade was a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Candel Therapeutics Trading Down 7.3 %

Candel Therapeutics stock opened at $8.25 on Friday. The company has a market cap of $267.93 million, a PE ratio of -4.77 and a beta of -1.29. Candel Therapeutics, Inc. has a 1 year low of $1.40 and a 1 year high of $14.60. The company’s 50-day moving average is $8.22 and its two-hundred day moving average is $7.00.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.17). Research analysts forecast that Candel Therapeutics, Inc. will post -1.47 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Citigroup initiated coverage on Candel Therapeutics in a report on Thursday, February 20th. They set a “buy” rating and a $25.00 target price on the stock. Bank of America began coverage on shares of Candel Therapeutics in a research report on Friday, February 7th. They issued a “buy” rating and a $15.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $19.00 target price on shares of Candel Therapeutics in a research report on Friday, March 14th. Finally, Canaccord Genuity Group increased their price target on shares of Candel Therapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new stake in Candel Therapeutics in the fourth quarter valued at about $30,000. Russell Investments Group Ltd. grew its position in shares of 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 buying an additional 1,610 shares during the period. FMR LLC bought a new stake in shares of Candel Therapeutics in the 3rd quarter valued at about $46,000. Wells Fargo & Company MN raised its position in shares of Candel Therapeutics by 63.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock valued at $88,000 after acquiring an additional 3,935 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake 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 acquiring an additional 1,375 shares during the last quarter. 13.93% of the stock is currently owned by institutional investors.

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.