Baker BROS. Advisors LP Sells 544,794 Shares of Candel Therapeutics, Inc. $CADL

Key Points

• Baker BROS. Advisors LP has reduced its stake in Candel Therapeutics by 18.3%, selling approximately 544,794 shares and owning 2,437,189 shares at the end of the first quarter.
• Several institutional investors have increased their holdings in Candel Therapeutics, with Squarepoint Ops LLC raising its position by 86.6% in the last quarter.
• Analysts have generally rated Candel Therapeutics positively, with an average price target of $22.00 and several ratings raised, including a "strong-buy" from Brookline Capital Management.

Baker BROS. Advisors LP lessened its holdings in shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) by 18.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,437,189 shares of the company's stock after selling 544,794 shares during the quarter. Baker BROS. Advisors LP owned approximately 4.95% of Candel Therapeutics worth $13,770,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its position in Candel Therapeutics by 86.6% during the fourth quarter. Squarepoint Ops LLC now owns 19,311 shares of the company's stock valued at $168,000 after acquiring an additional 8,962 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Candel Therapeutics by 104.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,090 shares of the company's stock valued at $119,000 after acquiring an additional 10,765 shares in the last quarter. Northern Trust Corp raised its stake in shares of Candel Therapeutics by 3.9% in the 4th quarter. Northern Trust Corp now owns 165,021 shares of the company's stock valued at $1,432,000 after acquiring an additional 6,250 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Candel Therapeutics by 26.8% in the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company's stock valued at $188,000 after acquiring an additional 7,030 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Candel Therapeutics by 205.6% in the 4th quarter. Bank of America Corp DE now owns 66,811 shares of the company's stock valued at $580,000 after acquiring an additional 44,952 shares in the last quarter. Institutional investors own 13.93% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CADL. Brookline Capital Management raised Candel Therapeutics to a "strong-buy" rating in a research note on Wednesday, July 9th. Wall Street Zen raised Candel Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, HC Wainwright raised Candel Therapeutics to a "buy" rating and set a $23.00 price objective on the stock in a research note on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $22.00.

Candel Therapeutics Stock Performance

CADL opened at $5.79 on Tuesday. The firm has a market capitalization of $317.87 million, a P/E ratio of -8.39 and a beta of -0.90. The stock's 50 day moving average price is $5.97 and its two-hundred day moving average price is $6.17. The company has a quick ratio of 7.04, a current ratio of 7.04 and a debt-to-equity ratio of 0.01. Candel Therapeutics, Inc. has a 12-month low of $3.79 and a 12-month high of $14.60.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.08. On average, equities analysts forecast that Candel Therapeutics, Inc. will post -1.47 earnings per share for the current year.

Candel Therapeutics 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.

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