Candel Therapeutics, Inc. (NASDAQ:CADL) Director Buys $7,500,000.00 in Stock

Candel Therapeutics, Inc. (NASDAQ:CADL) Director Paul B. Manning bought 1,250,000 shares of the stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $7,500,000.00. Following the acquisition, the director now directly owns 1,303,752 shares in the company, valued at approximately $7,822,512. This trade represents a 2,325.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Candel Therapeutics Price Performance

Shares of CADL traded down $0.09 during trading hours on Wednesday, reaching $6.51. 4,146,766 shares of the company’s stock traded hands, compared to its average volume of 2,373,467. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66. The firm’s 50 day simple moving average is $5.32 and its 200-day simple moving average is $6.02. The stock has a market cap of $211.42 million, a PE ratio of -3.76 and a beta of -0.95. Candel Therapeutics, Inc. has a 12 month low of $1.02 and a 12 month high of $14.60.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $19.00 price target (up from $11.00) on shares of Candel Therapeutics in a report on Wednesday.

Hedge Funds Weigh In On Candel Therapeutics

A number of institutional investors have recently made changes to their positions in CADL. Point72 DIFC Ltd purchased a new stake in Candel Therapeutics during the 2nd quarter valued at about $31,000. FMR LLC purchased a new stake in Candel Therapeutics in the third quarter worth about $46,000. MetLife Investment Management LLC bought a new position in Candel Therapeutics during the 3rd quarter valued at approximately $87,000. Atom Investors LP bought a new stake in Candel Therapeutics in the third quarter worth $103,000. Finally, State Street Corp grew its stake in shares of Candel Therapeutics by 4.1% in the third quarter. State Street Corp now owns 492,005 shares of the company’s stock worth $3,410,000 after acquiring an additional 19,207 shares during the last quarter. Institutional investors own 13.93% of the company’s stock.

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.