Citigroup Begins Coverage on Candel Therapeutics (NASDAQ:CADL)

Investment analysts at Citigroup assumed coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a research note issued on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $25.00 price target on the stock. Citigroup’s price target indicates a potential upside of 114.96% from the stock’s current price.

A number of other analysts also recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target (up from $11.00) on shares of Candel Therapeutics in a research report on Wednesday, December 18th. Bank of America initiated coverage on Candel Therapeutics in a research report on Friday, February 7th. They set a “buy” rating and a $15.00 price target for the company. Finally, Canaccord Genuity Group initiated coverage on Candel Therapeutics in a research report on Wednesday. They set a “buy” rating and a $20.00 price target for the company.

Candel Therapeutics Stock Down 4.8 %

CADL stock opened at $11.63 on Thursday. Candel Therapeutics has a twelve month low of $1.34 and a twelve month high of $14.60. The stock’s 50 day moving average is $8.20 and its 200-day moving average is $6.63. The firm has a market capitalization of $377.74 million, a PE ratio of -6.72 and a beta of -1.25.

Insider Transactions at Candel Therapeutics

In related news, insider Francesca Barone sold 13,534 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $7.22, for a total transaction of $97,715.48. Following the completion of the transaction, the insider now directly owns 110,673 shares in the company, valued at $799,059.06. The trade was a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Seshu Tyagarajan sold 14,322 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $7.22, for a total value of $103,404.84. Following the transaction, the chief technology officer now owns 96,790 shares of the company’s stock, valued at approximately $698,823.80. The trade was a 12.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,856 shares of company stock valued at $470,044 over the last three months. Company insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new position in Candel Therapeutics during the 4th quarter valued at approximately $30,000. Russell Investments Group Ltd. raised its position 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 worth $33,000 after acquiring an additional 1,610 shares in the last quarter. FMR LLC bought a new position in shares of Candel Therapeutics in the 3rd quarter worth approximately $46,000. MetLife Investment Management LLC bought a new position in shares of Candel Therapeutics in the 3rd quarter worth approximately $87,000. Finally, 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 worth $88,000 after acquiring an additional 3,935 shares in the last quarter. 13.93% of the stock is currently 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.