MML Investors Services LLC Sells 51,063 Shares of Candel Therapeutics, Inc. (NASDAQ:CADL)

MML Investors Services LLC lessened its holdings in Candel Therapeutics, Inc. (NASDAQ:CADL) by 69.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,313 shares of the company’s stock after selling 51,063 shares during the period. MML Investors Services LLC owned 0.07% of Candel Therapeutics worth $155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new stake in Candel Therapeutics during the second quarter worth approximately $31,000. FMR LLC bought a new position in shares of Candel Therapeutics during the third quarter worth approximately $46,000. MetLife Investment Management LLC acquired a new stake in Candel Therapeutics during the 3rd quarter worth approximately $87,000. Atom Investors LP bought a new stake in Candel Therapeutics in the 3rd quarter valued at $103,000. Finally, State Street Corp grew its holdings in Candel Therapeutics by 4.1% in the 3rd quarter. State Street Corp now owns 492,005 shares of the company’s stock valued at $3,410,000 after buying an additional 19,207 shares in the last quarter. Institutional investors and hedge funds own 13.93% of the company’s stock.

Insider Activity

In other news, Director Paul B. Manning acquired 1,250,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average price of $6.00 per share, with a total value of $7,500,000.00. Following the completion of the transaction, the director now directly owns 1,303,752 shares of the company’s stock, valued at $7,822,512. This trade represents a 2,325.49 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Garrett Nichols sold 13,935 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $4.56, for a total transaction of $63,543.60. Following the sale, the insider now owns 100,547 shares in the company, valued at $458,494.32. The trade was a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,127 shares of company stock worth $349,911. Corporate insiders own 41.60% of the company’s stock.

Candel Therapeutics Price Performance

Shares of Candel Therapeutics stock opened at $8.87 on Friday. The company has a 50-day simple moving average of $5.75 and a two-hundred day simple moving average of $6.10. Candel Therapeutics, Inc. has a twelve month low of $1.16 and a twelve month high of $14.60. The stock has a market capitalization of $288.06 million, a price-to-earnings ratio of -5.13 and a beta of -0.95. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.66.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $19.00 target price (up previously from $11.00) on shares of Candel Therapeutics in a report on Wednesday, December 18th.

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.