Candel Therapeutics (NASDAQ:CADL) Coverage Initiated by Analysts at Citigroup

Citigroup assumed coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a report issued on Thursday, Marketbeat reports. The firm issued a buy rating and a $25.00 price objective on the stock.

CADL has been the topic of several other reports. HC Wainwright restated a “buy” rating and issued a $19.00 price target (up from $11.00) on shares of Candel Therapeutics in a research report on Wednesday, December 18th. Canaccord Genuity Group assumed coverage on Candel Therapeutics in a research report on Wednesday. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Bank of America assumed coverage on Candel Therapeutics in a research note on Friday, February 7th. They set a “buy” rating and a $15.00 price objective on the stock.

Candel Therapeutics Stock Up 16.6 %

NASDAQ:CADL opened at $12.21 on Thursday. Candel Therapeutics has a 12-month low of $1.34 and a 12-month high of $14.60. The firm has a market capitalization of $396.58 million, a P/E ratio of -7.06 and a beta of -1.25. The stock’s fifty day simple moving average is $8.10 and its 200-day simple moving average is $6.58.

Insider Buying and Selling

In related news, insider Francesca Barone sold 13,534 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $7.22, for a total transaction of $97,715.48. Following the sale, the insider now owns 110,673 shares of the company’s stock, valued at approximately $799,059.06. This trade represents a 10.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William Garrett Nichols sold 13,935 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $4.56, for a total value of $63,543.60. Following the sale, the insider now directly owns 100,547 shares in the company, valued at $458,494.32. The trade was a 12.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,856 shares of company stock valued at $470,044. 41.60% of the stock is owned by company insiders.

Institutional Trading of Candel Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of Candel Therapeutics in the 4th quarter valued at about $30,000. Russell Investments Group Ltd. raised its stake in shares of Candel Therapeutics by 75.1% in the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock valued at $33,000 after purchasing an additional 1,610 shares during the period. FMR LLC acquired a new stake in shares of Candel Therapeutics in the 3rd quarter valued at about $46,000. Wells Fargo & Company MN raised its stake 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 purchasing an additional 3,935 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Candel Therapeutics by 15.2% in the 4th quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company’s stock valued at $90,000 after purchasing an additional 1,375 shares during the period. Institutional investors and hedge funds own 13.93% of the company’s stock.

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.