Bridgeway Capital Management LLC Reduces Position in Candel Therapeutics, Inc. (NASDAQ:CADL)

Bridgeway Capital Management LLC trimmed its position in shares of Candel Therapeutics, Inc. (NASDAQ:CADL) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,195 shares of the company’s stock after selling 3,400 shares during the period. Bridgeway Capital Management LLC owned about 0.24% of Candel Therapeutics worth $670,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baker BROS. Advisors LP purchased a new position in Candel Therapeutics in the 4th quarter worth about $25,884,000. Acorn Capital Advisors LLC bought a new position in Candel Therapeutics in the 4th quarter worth about $16,836,000. Braidwell LP purchased a new position in shares of Candel Therapeutics during the fourth quarter worth approximately $13,888,000. Portolan Capital Management LLC bought a new stake in shares of Candel Therapeutics during the fourth quarter valued at approximately $6,543,000. Finally, Halter Ferguson Financial Inc. boosted its holdings in shares of Candel Therapeutics by 123.7% in the fourth quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company’s stock valued at $5,914,000 after purchasing an additional 376,795 shares during the period. 13.93% of the stock is owned by hedge funds and other institutional investors.

Candel Therapeutics Trading Up 0.8%

Shares of NASDAQ CADL opened at $4.80 on Monday. The stock has a market capitalization of $236.50 million, a PE ratio of -2.77 and a beta of -0.92. Candel Therapeutics, Inc. has a 12-month low of $3.79 and a 12-month high of $14.60. The stock’s fifty day simple moving average is $6.04 and its two-hundred day simple moving average is $6.68.

Candel Therapeutics (NASDAQ:CADL) last announced its earnings results on Thursday, March 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.17). On average, equities analysts predict that Candel Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CADL shares. Canaccord Genuity Group raised their price objective on Candel Therapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Citigroup started coverage on Candel Therapeutics in a research report on Thursday, February 20th. They set a “buy” rating and a $25.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $19.00 price objective on shares of Candel Therapeutics in a report on Friday, April 11th. Finally, Bank of America assumed coverage on shares of Candel Therapeutics in a research note on Friday, February 7th. They issued a “buy” rating and a $15.00 price objective for the company.

Insider Buying and Selling

In other news, CTO Seshu Tyagarajan sold 31,278 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.82, for a total value of $275,871.96. Following the completion of the sale, the chief technology officer now owns 85,512 shares of the company’s stock, valued at $754,215.84. This trade represents a 26.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles Schoch sold 5,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.83, for a total value of $44,150.00. Following the transaction, the insider now owns 38,038 shares in the company, valued at approximately $335,875.54. This trade represents a 11.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 41.60% of the stock is currently owned by company insiders.

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.