Francesca Barone Sells 23,447 Shares of Candel Therapeutics (NASDAQ:CADL) Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) insider Francesca Barone sold 23,447 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $10.06, for a total transaction of $235,876.82. Following the sale, the insider owned 77,362 shares in the company, valued at $778,261.72. This represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Candel Therapeutics Stock Down 0.5%

Shares of NASDAQ:CADL opened at $9.83 on Friday. The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34. Candel Therapeutics, Inc. has a 12 month low of $4.35 and a 12 month high of $11.36. The company has a 50-day moving average price of $8.30 and a 200 day moving average price of $6.48. The company has a market cap of $720.24 million, a price-to-earnings ratio of -10.03 and a beta of -0.52.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.16. As a group, equities research analysts predict that Candel Therapeutics, Inc. will post -0.97 earnings per share for the current year.

Hedge Funds Weigh In On Candel Therapeutics

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in shares of Candel Therapeutics by 128.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock worth $40,000 after buying an additional 4,439 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Candel Therapeutics during the first quarter valued at approximately $63,000. Bank of New York Mellon Corp boosted its stake in Candel Therapeutics by 43.1% in the first quarter. Bank of New York Mellon Corp now owns 136,266 shares of the company’s stock valued at $668,000 after acquiring an additional 41,058 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Candel Therapeutics in the first quarter valued at approximately $845,000. Finally, AlphaCentric Advisors LLC purchased a new position in Candel Therapeutics in the first quarter worth $178,000. 13.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Monday, April 20th. Citigroup decreased their price objective on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Cantor Fitzgerald began coverage on Candel Therapeutics in a report 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 given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.00.

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.