Candel Therapeutics (NASDAQ:CADL) Stock Price Up 2.5% – Time to Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL) rose 2.5% on Wednesday . The company traded as high as $5.43 and last traded at $5.33. Approximately 217,298 shares traded hands during trading, a decline of 88% from the average daily volume of 1,860,414 shares. The stock had previously closed at $5.20.

Candel Therapeutics Trading Up 2.5 %

The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.66. The stock has a 50-day simple moving average of $6.35 and a two-hundred day simple moving average of $6.87. The firm has a market capitalization of $170.99 million, a P/E ratio of -3.15 and a beta of -0.88.

Candel Therapeutics (NASDAQ:CADL) last issued its earnings results on Tuesday, August 13th. The company reported ($0.74) earnings per share for the quarter. On average, equities research analysts anticipate that Candel Therapeutics, Inc. will post -0.91 earnings per share for the current year.

Insider Transactions at Candel Therapeutics

In other news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $6.02, for a total value of $90,300.00. Following the completion of the transaction, the insider now directly owns 929,873 shares of the company’s stock, valued at approximately $5,597,835.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 31,800 shares of company stock valued at $193,380. Corporate insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in Candel Therapeutics during the 2nd quarter valued at about $31,000. Rhumbline Advisers purchased a new stake in Candel Therapeutics during the 2nd quarter valued at about $143,000. Cubist Systematic Strategies LLC purchased a new stake in Candel Therapeutics during the 2nd quarter valued at about $162,000. Finally, Bank of New York Mellon Corp purchased a new stake in Candel Therapeutics during the 2nd quarter valued at about $338,000. 13.93% of the stock is owned by institutional investors and hedge funds.

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.