Oppenheimer & Co. Inc. Purchases Shares of 37,915 Candel Therapeutics, Inc. (NASDAQ:CADL)

Oppenheimer & Co. Inc. purchased a new stake in Candel Therapeutics, Inc. (NASDAQ:CADL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,915 shares of the company’s stock, valued at approximately $329,000. Oppenheimer & Co. Inc. owned about 0.12% of Candel Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in Candel Therapeutics by 17.0% in the fourth quarter. Rhumbline Advisers now owns 26,272 shares of the company’s stock valued at $228,000 after purchasing an additional 3,817 shares during the last quarter. FMR LLC purchased a new stake in Candel Therapeutics in the third quarter valued at $46,000. MetLife Investment Management LLC purchased a new stake in Candel Therapeutics in the third quarter valued at $87,000. Atom Investors LP purchased a new stake in Candel Therapeutics in the third quarter valued at $103,000. Finally, State Street Corp boosted its holdings in Candel Therapeutics by 4.1% in the third quarter. State Street Corp now owns 492,005 shares of the company’s stock valued at $3,410,000 after purchasing an additional 19,207 shares during the last quarter. 13.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Francesca Barone sold 13,534 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were 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 owns 110,673 shares in the company, valued at $799,059.06. This represents a 10.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Seshu Tyagarajan sold 14,322 shares of the company’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 $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. This trade represents a 12.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,529 shares of company stock worth $313,512 in the last 90 days. Insiders own 41.60% of the company’s stock.

Candel Therapeutics Stock Up 5.2 %

CADL opened at $8.26 on Friday. Candel Therapeutics, Inc. has a twelve month low of $1.34 and a twelve month high of $14.60. The company has a 50-day moving average price of $8.28 and a 200 day moving average price of $6.82. The company has a market cap of $268.25 million, a PE ratio of -4.77 and a beta of -1.29.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Candel Therapeutics in a research report on Wednesday, February 26th. Bank of America assumed 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. Citigroup assumed coverage on shares of Candel Therapeutics in a research report on Thursday, February 20th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Canaccord Genuity Group upped their price objective on shares of Candel Therapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th.

Candel Therapeutics 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.