JPMorgan Chase & Co. Reduces Stock Position in Candel Therapeutics, Inc. (NASDAQ:CADL)

JPMorgan Chase & Co. decreased its holdings in Candel Therapeutics, Inc. (NASDAQ:CADL) by 53.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,051 shares of the company’s stock after selling 10,307 shares during the period. JPMorgan Chase & Co.’s holdings in Candel Therapeutics were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CADL. FMR LLC purchased a new position in Candel Therapeutics in the 3rd quarter worth about $46,000. MetLife Investment Management LLC bought a new position in Candel Therapeutics in the 3rd quarter worth about $87,000. Atom Investors LP purchased a new position in shares of Candel Therapeutics during the third quarter worth approximately $103,000. Cubist Systematic Strategies LLC bought a new stake in shares of Candel Therapeutics during the second quarter valued at approximately $162,000. Finally, Barclays PLC raised its stake in shares of Candel Therapeutics by 327.1% during the third quarter. Barclays PLC now owns 28,688 shares of the company’s stock valued at $199,000 after acquiring an additional 21,971 shares in the last quarter. 13.93% of the stock is currently owned by institutional investors.

Candel Therapeutics Price Performance

NASDAQ:CADL opened at $7.15 on Tuesday. Candel Therapeutics, Inc. has a 1-year low of $1.21 and a 1-year high of $14.60. The company has a 50-day moving average of $7.16 and a 200 day moving average of $6.32. The firm has a market cap of $232.23 million, a PE ratio of -4.13 and a beta of -1.25.

Insider Activity

In related news, insider William Garrett Nichols sold 13,935 shares of Candel Therapeutics stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $4.56, for a total transaction of $63,543.60. Following the completion of the transaction, the insider now directly owns 100,547 shares in the company, valued at approximately $458,494.32. This trade represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Seshu Tyagarajan sold 20,392 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $4.56, for a total value of $92,987.52. Following the completion of the transaction, the chief technology officer now directly owns 125,657 shares of the company’s stock, valued at $572,995.92. The trade was a 13.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,856 shares of company stock worth $470,044. 41.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.