Insider Selling: Candel Therapeutics (NASDAQ:CADL) Insider Sells $235,876.82 in Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) insider Francesca Barone sold 23,447 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $10.06, for a total value of $235,876.82. Following the completion of the sale, the insider owned 77,362 shares in the company, valued at approximately $778,261.72. This represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Candel Therapeutics Stock Performance

CADL stock traded down $0.42 during trading on Wednesday, reaching $9.88. 1,870,682 shares of the company’s stock were exchanged, compared to its average volume of 1,599,176. The company has a quick ratio of 28.05, a current ratio of 28.05 and a debt-to-equity ratio of 0.34. Candel Therapeutics, Inc. has a 1-year low of $4.35 and a 1-year high of $11.36. The company’s fifty day moving average price is $8.19 and its 200-day moving average price is $6.43. The firm has a market cap of $723.91 million, a PE ratio of -10.08 and a beta of -0.49.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.16. On average, research analysts expect that Candel Therapeutics, Inc. will post -0.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup dropped their price target on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Monday, April 20th. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 target price on shares of Candel Therapeutics in a report on Friday, March 13th. Wall Street Zen upgraded Candel Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Cantor Fitzgerald began coverage on Candel Therapeutics in a research note on Monday, April 20th. They set an “overweight” rating for the company. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Institutional Investors Weigh In On Candel Therapeutics

Several hedge funds have recently made changes to their positions in CADL. Vanguard Group Inc. raised its stake in Candel Therapeutics by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after purchasing an additional 219,563 shares during the period. Geode Capital Management LLC boosted its position in shares of Candel Therapeutics by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 977,512 shares of the company’s stock worth $5,524,000 after buying an additional 49,315 shares during the period. Halter Ferguson Financial Inc. grew its holdings in shares of Candel Therapeutics by 20.9% during the first quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock valued at $4,430,000 after buying an additional 155,996 shares in the last quarter. State Street Corp grew its holdings in shares of Candel Therapeutics by 15.0% during the fourth quarter. State Street Corp now owns 792,218 shares of the company’s stock valued at $4,476,000 after buying an additional 103,452 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Candel Therapeutics during the first quarter valued at $845,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

About Candel Therapeutics

Candel Therapeutics (NASDAQ:CADL) is a clinical-stage immuno-oncology company focused on the development of next-generation oncolytic viral therapies designed to treat solid tumors. The company’s lead candidate, CAN-2409, is a locally administered, gene-delivered viral therapy engineered to selectively replicate in cancer cells and induce immunogenic cell death. Candel leverages proprietary virus engineering platforms to enhance tumor-specific replication and stimulate anti-tumor immune responses, aiming to improve outcomes for patients with high unmet medical needs.

In addition to its lead program, Candel’s pipeline includes CAN-3110, an oncolytic herpes simplex virus targeting recurrent high-grade glioma, and other novel viral constructs being explored for a variety of solid tumor indications.