Candel Therapeutics (NASDAQ:CADL) Announces Quarterly Earnings Results, Beats Expectations By $0.37 EPS

Candel Therapeutics (NASDAQ:CADL - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.24) by $0.37, Zacks reports.

Candel Therapeutics Price Performance

Shares of CADL stock traded up $0.19 on Tuesday, hitting $5.20. 153,505 shares of the stock traded hands, compared to its average volume of 1,458,554. Candel Therapeutics has a 1-year low of $3.79 and a 1-year high of $14.60. The company's fifty day moving average is $5.97 and its 200 day moving average is $6.68. The company has a market capitalization of $255.96 million, a PE ratio of -3.00 and a beta of -0.92.

Insider Transactions at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 31,278 shares of the business's stock in a transaction on 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 directly owns 85,512 shares of the company's stock, valued at $754,215.84. The trade was a 26.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charles Schoch sold 5,000 shares of the company's stock in a transaction on 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 $335,875.54. The trade was a 11.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 41.60% of the company's stock.

Institutional Trading of Candel Therapeutics

A hedge fund recently bought a new stake in Candel Therapeutics stock. Invesco Ltd. acquired a new position in shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,413 shares of the company's stock, valued at approximately $59,000. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.

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