Candel Therapeutics, Inc. $CADL Shares Bought by Acorn Capital Advisors LLC

Acorn Capital Advisors LLC grew its stake in shares of Candel Therapeutics, Inc. (NASDAQ:CADL) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,152,252 shares of the company’s stock after acquiring an additional 212,608 shares during the period. Candel Therapeutics comprises approximately 7.9% of Acorn Capital Advisors LLC’s holdings, making the stock its 5th biggest position. Acorn Capital Advisors LLC owned 4.37% of Candel Therapeutics worth $12,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC lifted its position in Candel Therapeutics by 86.6% in the 4th quarter. Squarepoint Ops LLC now owns 19,311 shares of the company’s stock valued at $168,000 after purchasing an additional 8,962 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Candel Therapeutics by 104.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,090 shares of the company’s stock worth $119,000 after buying an additional 10,765 shares in the last quarter. Northern Trust Corp raised its position in shares of Candel Therapeutics by 3.9% during the 4th quarter. Northern Trust Corp now owns 165,021 shares of the company’s stock worth $1,432,000 after buying an additional 6,250 shares in the last quarter. Rhumbline Advisers raised its position in shares of Candel Therapeutics by 26.8% during the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock worth $188,000 after buying an additional 7,030 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Candel Therapeutics by 205.6% during the 4th quarter. Bank of America Corp DE now owns 66,811 shares of the company’s stock worth $580,000 after buying an additional 44,952 shares in the last quarter. 13.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on CADL. HC Wainwright upgraded shares of Candel Therapeutics to a “buy” rating and set a $23.00 price target on the stock in a research report on Monday, June 30th. Brookline Capital Management upgraded shares of Candel Therapeutics to a “strong-buy” rating in a research report on Wednesday, July 9th. Wall Street Zen cut shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Bank of America cut shares of Candel Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $13.00 to $7.00 in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $20.00.

Candel Therapeutics Stock Performance

Shares of CADL opened at $5.10 on Tuesday. The firm’s 50 day moving average is $5.99 and its 200-day moving average is $5.98. The stock has a market capitalization of $279.99 million, a P/E ratio of -7.39 and a beta of -0.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.04 and a quick ratio of 7.04. Candel Therapeutics, Inc. has a 12-month low of $3.79 and a 12-month high of $14.60.

Candel Therapeutics (NASDAQ:CADL) last released its earnings results on Thursday, August 14th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.08. Equities research analysts anticipate that Candel Therapeutics, Inc. will post -1.47 EPS for the current fiscal year.

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.