Bank of America Corp DE Has $580,000 Holdings in Candel Therapeutics, Inc. (NASDAQ:CADL)

Bank of America Corp DE raised its holdings in Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) by 205.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,811 shares of the company's stock after acquiring an additional 44,952 shares during the period. Bank of America Corp DE owned about 0.21% of Candel Therapeutics worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Rhumbline Advisers raised its stake in shares of Candel Therapeutics by 17.0% in the 4th quarter. Rhumbline Advisers now owns 26,272 shares of the company's stock valued at $228,000 after purchasing an additional 3,817 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Candel Therapeutics during the fourth quarter worth about $329,000. Charles Schwab Investment Management Inc. raised its position in Candel Therapeutics by 11.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 52,190 shares of the company's stock valued at $453,000 after buying an additional 5,413 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in Candel Therapeutics in the 4th quarter valued at approximately $357,000. Finally, Halter Ferguson Financial Inc. boosted its position in Candel Therapeutics by 123.7% during the 4th quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company's stock worth $5,914,000 after acquiring an additional 376,795 shares during the last quarter. 13.93% of the stock is currently owned by institutional investors.

Candel Therapeutics Trading Down 4.3%

Shares of CADL traded down $0.23 during mid-day trading on Friday, reaching $5.13. The company's stock had a trading volume of 718,584 shares, compared to its average volume of 1,459,421. Candel Therapeutics, Inc. has a 1-year low of $3.79 and a 1-year high of $14.60. The business has a 50-day simple moving average of $5.17 and a two-hundred day simple moving average of $6.78. The stock has a market cap of $257.03 million, a P/E ratio of -2.97 and a beta of -0.87.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.37. Research analysts anticipate that Candel Therapeutics, Inc. will post -1.47 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on CADL. Canaccord Genuity Group raised their price target on Candel Therapeutics from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. 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 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $19.00 price target on shares of Candel Therapeutics in a research report on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Candel Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $21.00.

Insider Transactions at Candel Therapeutics

In other Candel Therapeutics news, insider Charles Schoch sold 5,000 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now directly owns 38,038 shares in the company, valued at $335,875.54. This trade represents a 11.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Seshu Tyagarajan sold 31,278 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $8.82, for a total value of $275,871.96. Following the sale, the chief technology officer now owns 85,512 shares of the company's stock, valued at approximately $754,215.84. This represents a 26.78% decrease in their position. The disclosure for this sale can be found here. 16.60% of the stock is currently owned by corporate insiders.

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.