Braidwell LP Purchases New Stake in Candel Therapeutics, Inc. (NASDAQ:CADL)

Braidwell LP purchased a new stake in Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,600,000 shares of the company's stock, valued at approximately $13,888,000. Braidwell LP owned about 4.93% of Candel Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in Candel Therapeutics during the fourth quarter valued at approximately $30,000. Russell Investments Group Ltd. grew its holdings in shares of Candel Therapeutics by 75.1% in 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 during the period. Wells Fargo & Company MN increased its position in shares of Candel Therapeutics by 63.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,122 shares of the company's stock valued at $88,000 after buying an additional 3,935 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Candel Therapeutics by 15.2% during the 4th quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company's stock worth $90,000 after buying an additional 1,375 shares during the period. Finally, LPL Financial LLC bought a new position in Candel Therapeutics during the fourth quarter worth about $93,000. 13.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Candel Therapeutics

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

Analysts Set New Price Targets

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

Candel Therapeutics Stock Performance

NASDAQ CADL traded up $0.04 during trading on Friday, hitting $4.80. The stock had a trading volume of 450,729 shares, compared to its average volume of 1,462,024. Candel Therapeutics, Inc. has a 12 month low of $3.79 and a 12 month high of $14.60. The company's 50-day moving average price is $6.04 and its two-hundred day moving average price is $6.67. The company has a market capitalization of $236.50 million, a PE ratio of -2.77 and a beta of -0.92.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.17). As a group, equities 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.