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 that occurred 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 transaction, the chief technology officer owned 76,865 shares in the company, valued at $922,380. The trade was a 8.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Seshu Tyagarajan also recently made the following trade(s):

• On Monday, June 29th, Seshu Tyagarajan sold 7,000 shares of Candel Therapeutics stock. The stock was sold at an average price of $10.02, for a total value of $70,140.00.

Candel Therapeutics Stock Performance

Shares of Candel Therapeutics stock traded up $1.45 on Wednesday, reaching $13.50. 2,375,183 shares of the stock were exchanged, compared to its average volume of 1,537,261. Candel Therapeutics, Inc. has a twelve month low of $4.35 and a twelve month high of $13.82. The company has a quick ratio of 16.09, a current ratio of 16.09 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -9.57 and a beta of -0.51. The business has a 50 day moving average price of $9.82 and a two-hundred day moving average price of $7.50.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). Analysts anticipate that Candel Therapeutics, Inc. will post -1.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CADL. Janus Henderson Group PLC acquired a new stake in Candel Therapeutics in the 1st quarter worth about $845,000. Halter Ferguson Financial Inc. grew its holdings in Candel Therapeutics by 20.9% in the first quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock valued at $4,430,000 after purchasing an additional 155,996 shares during the period. Walleye Capital LLC acquired a new position in Candel Therapeutics during the second quarter worth approximately $419,000. Renaissance Technologies LLC purchased a new position in Candel Therapeutics during the first quarter worth approximately $63,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Candel Therapeutics in the 1st quarter valued at $178,000. Institutional investors and hedge funds own 13.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CADL. UBS Group reaffirmed a “buy” rating on shares of Candel Therapeutics in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday, July 17th. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. HC Wainwright reissued a “buy” rating and issued a $23.00 price target on shares of Candel Therapeutics in a research note on Thursday, August 13th. Finally, Wall Street Zen cut shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday. Eight 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

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.