Bank of New York Mellon Corp Takes Position in Candel Therapeutics, Inc. $CADL

Key Points

• Bank of New York Mellon acquired 191,701 shares of Candel Therapeutics in the second quarter, valued at approximately $1.98 million. Institutional investors and hedge funds collectively own 13.93% of the company.
• Analyst sentiment remains generally positive, with eight Buy ratings, two Holds, and one Sell; the consensus rating is Moderate Buy with a $19.29 price target.
• CADL shares opened at $12.60, near their 12-month high of $14.00, but Candel reported a quarterly loss of $0.52 per share, missing the consensus estimate of a $0.24 loss.

Bank of New York Mellon Corp acquired a new position in Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 191,701 shares of the company's stock, valued at approximately $1,975,000. Bank of New York Mellon Corp owned approximately 0.26% of Candel Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Candel Therapeutics by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company's stock valued at $10,236,000 after acquiring an additional 219,563 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Candel Therapeutics by 31.5% during the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company's stock worth $4,575,000 after buying an additional 216,509 shares during the period. Janus Henderson Group PLC acquired a new position in Candel Therapeutics in the 1st quarter valued at $845,000. Halter Ferguson Financial Inc. grew its stake in Candel Therapeutics by 20.9% in the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company's stock valued at $4,430,000 after buying an additional 155,996 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Candel Therapeutics in the 3rd quarter worth $697,000. Institutional investors and hedge funds own 13.93% of the company's stock.

Insider Buying and Selling at Candel Therapeutics

In other Candel Therapeutics news, insider Francesca Barone sold 23,447 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $10.06, for a total transaction of $235,876.82. Following the sale, 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. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Seshu Tyagarajan sold 7,000 shares of Candel Therapeutics stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $12.00, for a total transaction of $84,000.00. Following the completion of the transaction, the chief technology officer directly owned 76,865 shares of the company's stock, valued at approximately $922,380. This trade represents a 8.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,447 shares of company stock valued at $390,017 over the last three months. 14.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CADL. Zacks Research raised Candel Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. HC Wainwright reiterated a "buy" rating and set a $23.00 target price on shares of Candel Therapeutics in a research report on Thursday, August 13th. Wall Street Zen lowered shares of Candel Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, August 16th. Bank of America boosted their target price on shares of Candel Therapeutics from $9.00 to $12.00 and gave the stock a "neutral" rating in a research note on Friday, August 14th. Finally, Stifel Nicolaus began coverage on Candel Therapeutics in a report on Monday, July 13th. They set a "buy" rating and a $22.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.29.

Candel Therapeutics Stock Performance

Shares of CADL stock opened at $12.60 on Wednesday. Candel Therapeutics, Inc. has a 12 month low of $4.35 and a 12 month high of $14.00. The company's fifty day simple moving average is $11.07 and its 200-day simple moving average is $8.27. The firm has a market cap of $964.15 million, a PE ratio of -8.94 and a beta of -0.48. The company has a quick ratio of 16.09, a current ratio of 16.09 and a debt-to-equity ratio of 0.38.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.28). Equities research analysts expect that Candel Therapeutics, Inc. will post -1.29 EPS for the current fiscal year.

About Candel Therapeutics

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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