Squarepoint Ops LLC Buys New Position in Candel Therapeutics, Inc. $CADL

Squarepoint Ops LLC acquired a new position in Candel Therapeutics, Inc. (NASDAQ:CADL) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 75,211 shares of the company’s stock, valued at approximately $775,000.

Other hedge funds also recently bought and sold shares of the company. ProShare Advisors LLC purchased a new position in Candel Therapeutics during the 4th quarter worth approximately $59,000. Renaissance Technologies LLC bought a new stake in shares of Candel Therapeutics during the 1st quarter worth about $63,000. Legal & General Group Plc acquired a new stake in shares of Candel Therapeutics in the second quarter worth $63,000. Janney Montgomery Scott LLC boosted its holdings in shares of Candel Therapeutics by 12.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company’s stock worth $149,000 after buying an additional 3,400 shares during the period. Finally, Krilogy Financial LLC increased its stake in shares of Candel Therapeutics by 25.3% in the first quarter. Krilogy Financial LLC now owns 30,065 shares of the company’s stock worth $155,000 after purchasing an additional 6,065 shares during the period. 13.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on CADL. HC Wainwright reiterated a “buy” rating and set a $23.00 target price on shares of Candel Therapeutics in a research note on Thursday, August 13th. Stifel Nicolaus assumed coverage on Candel Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $22.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a report on Friday, July 17th. UBS Group restated a “buy” rating on shares of Candel Therapeutics in a research report on Monday, August 17th. Finally, Wall Street Zen lowered Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Candel Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $19.29.

Candel Therapeutics Price Performance

Shares of Candel Therapeutics stock opened at $10.84 on Friday. The company has a current ratio of 16.09, a quick ratio of 16.09 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $829.09 million, a price-to-earnings ratio of -7.68 and a beta of -0.48. Candel Therapeutics, Inc. has a 1-year low of $4.35 and a 1-year high of $14.00. The firm’s 50-day moving average price is $11.27 and its two-hundred day moving average price is $8.58.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). On average, equities analysts predict that Candel Therapeutics, Inc. will post -1.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Francesca Barone sold 23,447 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.06, for a total value of $235,876.82. Following the sale, the insider directly owned 77,362 shares in the company, valued at $778,261.72. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $12.00, for a total transaction of $84,000.00. Following the completion of the transaction, the chief technology officer directly owned 76,865 shares of the company’s stock, valued at approximately $922,380. This trade represents a 8.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 37,447 shares of company stock valued at $390,017. Corporate insiders own 14.30% of the company’s stock.

About Candel Therapeutics

Candel Therapeutics, Inc is a clinical-stage biotechnology company developing multimodal biological immunotherapies designed to stimulate the immune system to recognize and attack cancer. The company focuses on engineered viruses administered directly into tumors, with the goal of creating a localized immune response that may also affect cancer cells elsewhere in the body.

Candel’s pipeline includes CAN-2409, an investigational, replication-defective adenovirus-based immunotherapy being studied in cancers including localized prostate cancer and non-small cell lung cancer.