Birchview Capital LP Makes New Investment in Candel Therapeutics, Inc. (NASDAQ:CADL)

Birchview Capital LP bought a new stake in shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 60,000 shares of the company's stock, valued at approximately $521,000. Birchview Capital LP owned 0.18% of Candel Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CADL. Russell Investments Group Ltd. grew its holdings in Candel Therapeutics by 75.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company's stock valued at $33,000 after buying an additional 1,610 shares in the last quarter. Wells Fargo & Company MN grew its stake in Candel Therapeutics by 63.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,122 shares of the company's stock worth $88,000 after acquiring an additional 3,935 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Candel Therapeutics by 15.2% in the 4th quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company's stock worth $90,000 after acquiring an additional 1,375 shares in the last quarter. LPL Financial LLC bought a new position in shares of Candel Therapeutics during the fourth quarter valued at approximately $93,000. Finally, MetLife Investment Management LLC boosted its stake in shares of Candel Therapeutics by 9.7% during the fourth quarter. MetLife Investment Management LLC now owns 13,773 shares of the company's stock valued at $120,000 after purchasing an additional 1,215 shares in the last quarter. Institutional investors own 13.93% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CADL. Citigroup began coverage on shares of Candel Therapeutics in a research note on Thursday, February 20th. They issued a "buy" rating and a $25.00 target price for the company. Bank of America began coverage on shares of Candel Therapeutics in a report on Friday, February 7th. They issued a "buy" rating and a $15.00 price target for the company. Canaccord Genuity Group upped their target price on Candel Therapeutics from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, HC Wainwright reissued a "buy" rating and set a $19.00 target price on shares of Candel Therapeutics in a research note on Friday, April 11th.

Insider Transactions at Candel Therapeutics

In other news, insider Charles Schoch sold 5,000 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total value of $44,150.00. Following the transaction, the insider now directly owns 38,038 shares in the company, valued at approximately $335,875.54. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Seshu Tyagarajan sold 31,278 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $8.82, for a total transaction of $275,871.96. Following the sale, the chief technology officer now owns 85,512 shares in the company, valued at $754,215.84. This trade represents a 26.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 41.60% of the company's stock.

Candel Therapeutics Stock Down 0.7 %

Shares of NASDAQ CADL traded down $0.04 during mid-day trading on Thursday, hitting $4.88. 559,865 shares of the company were exchanged, compared to its average volume of 1,467,677. The stock has a 50 day simple moving average of $6.58 and a 200-day simple moving average of $6.72. Candel Therapeutics, Inc. has a 1-year low of $3.79 and a 1-year high of $14.60. The firm has a market cap of $230.27 million, a price-to-earnings ratio of -2.81 and a beta of -0.95.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.17). Analysts anticipate that Candel Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

About Candel Therapeutics

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.