205,745 Shares in Candel Therapeutics, Inc. $CADL Acquired by Wellington Management Group LLP

Key Points

• Wellington Management acquired 205,745 shares of Candel Therapeutics, valued at approximately $2.1 million, while institutional investors collectively owned 13.93% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $19.29, despite some sell and hold ratings.
• Candel reported a quarterly loss of $0.52 per share, missing the $0.24 consensus estimate; insiders have also sold 37,447 shares worth roughly $390,000 over the past 90 days.

Wellington Management Group LLP acquired a new stake in shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 205,745 shares of the company's stock, valued at approximately $2,119,000. Wellington Management Group LLP owned 0.27% of Candel Therapeutics as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CADL. Bank of America Corp DE purchased a new stake in Candel Therapeutics during the second quarter worth approximately $2,873,000. Legal & General Group Plc acquired a new position in shares of Candel Therapeutics in the second quarter worth about $63,000. The Manufacturers Life Insurance Company purchased a new position in shares of Candel Therapeutics during the 2nd quarter valued at approximately $175,000. BlackRock Inc. acquired a new position in Candel Therapeutics during the 2nd quarter worth $51,181,000. Finally, Deutsche Bank AG acquired a new stake in shares of Candel Therapeutics during the 2nd quarter valued at approximately $648,000. Hedge funds and other institutional investors own 13.93% of the company's stock.

Wall Street Analysts Forecast Growth

CADL has been the subject of a number of analyst reports. Wall Street Zen lowered Candel Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, August 16th. UBS Group reissued a "buy" rating on shares of Candel Therapeutics in a research note on Monday, August 17th. HC Wainwright restated a "buy" rating and set a $23.00 price objective on shares of Candel Therapeutics in a report on Thursday, August 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Candel Therapeutics in a report on Friday, July 17th. Finally, Zacks Research raised Candel Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.29.

Insider Activity at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $12.00, for a total value of $84,000.00. Following the completion of the sale, the chief technology officer directly owned 76,865 shares in the company, valued at approximately $922,380. This trade represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Francesca Barone sold 23,447 shares of the business's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.06, for a total transaction of $235,876.82. Following the completion of the transaction, the insider directly owned 77,362 shares of the company's stock, valued at approximately $778,261.72. This represents a 23.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 37,447 shares of company stock valued at $390,017. Company insiders own 14.30% of the company's stock.

Candel Therapeutics Price Performance

NASDAQ:CADL opened at $11.33 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 16.09 and a current ratio of 16.09. The company has a 50-day moving average of $11.14 and a 200-day moving average of $8.36. The company has a market capitalization of $866.97 million, a price-to-earnings ratio of -8.04 and a beta of -0.48. Candel Therapeutics, Inc. has a 52 week low of $4.35 and a 52 week high of $14.00.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.28). As a group, equities research analysts anticipate that Candel Therapeutics, Inc. will post -1.29 earnings per share for the current fiscal year.

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.

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