HC Wainwright Reaffirms Buy Rating for Candel Therapeutics (NASDAQ:CADL)

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $11.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 175.69% from the stock’s current price. HC Wainwright also issued estimates for Candel Therapeutics’ Q4 2024 earnings at ($0.30) EPS.

Candel Therapeutics Price Performance

Shares of Candel Therapeutics stock opened at $3.99 on Monday. The stock has a market cap of $129.58 million, a P/E ratio of -2.31 and a beta of -0.88. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.18. The stock’s fifty day moving average is $5.96 and its 200 day moving average is $6.69. Candel Therapeutics has a one year low of $0.77 and a one year high of $14.30.

Insider Activity

In other news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $6.02, for a total value of $90,300.00. Following the completion of the sale, the insider now directly owns 929,873 shares of the company’s stock, valued at $5,597,835.46. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 31,800 shares of company stock valued at $193,380 in the last ninety days. Corporate insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CADL. Point72 DIFC Ltd purchased a new position in shares of Candel Therapeutics in the second quarter valued at about $31,000. FMR LLC purchased a new position in Candel Therapeutics in the 3rd quarter worth approximately $46,000. MetLife Investment Management LLC purchased a new position in Candel Therapeutics in the 3rd quarter worth approximately $87,000. Atom Investors LP bought a new position in Candel Therapeutics in the 3rd quarter worth approximately $103,000. Finally, Rhumbline Advisers purchased a new stake in Candel Therapeutics during the 2nd quarter valued at approximately $143,000. Institutional investors own 13.93% of the company’s stock.

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.