Insider Selling: Candel Therapeutics (NASDAQ:CADL) CTO Sells 7,000 Shares of Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) CTO Seshu Tyagarajan sold 7,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $10.02, for a total transaction of $70,140.00. Following the completion of the sale, the chief technology officer directly owned 83,865 shares in the company, valued at $840,327.30. This trade represents a 7.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Candel Therapeutics Price Performance

Shares of CADL traded down $0.42 during mid-day 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. The company has a 50-day simple moving average of $8.19 and a two-hundred day simple moving average of $6.43. Candel Therapeutics, Inc. has a 52-week low of $4.35 and a 52-week high of $11.36. The company has a market cap of $723.91 million, a price-to-earnings ratio of -10.08 and a beta of -0.49.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CADL shares. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 price objective on shares of Candel Therapeutics in a research 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Monday, April 20th. Citigroup reduced their target price on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Finally, Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CADL. Vanguard Group Inc. grew its position in shares of Candel Therapeutics by 12.3% in the third 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 lifted its position in Candel Therapeutics by 31.5% during the second quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock worth $4,575,000 after buying an additional 216,509 shares during the period. Janus Henderson Group PLC acquired a new stake in Candel Therapeutics in the 1st quarter worth about $845,000. Halter Ferguson Financial Inc. boosted its stake in Candel Therapeutics by 20.9% in the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock worth $4,430,000 after buying an additional 155,996 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in Candel Therapeutics in the 3rd quarter valued at about $697,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

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.