BlackRock Inc. Buys Shares of 4,969,040 Candel Therapeutics, Inc. $CADL

BlackRock Inc. purchased a new stake in shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,969,040 shares of the company's stock, valued at approximately $51,181,000. BlackRock Inc. owned 6.78% of Candel Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CADL. Vanguard Group Inc. grew its stake in Candel Therapeutics by 12.3% during the third 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 raised its position in shares of Candel Therapeutics by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 977,512 shares of the company's stock worth $5,524,000 after buying an additional 49,315 shares in the last quarter. Halter Ferguson Financial Inc. boosted its stake in Candel Therapeutics by 20.9% during the first 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 period. State Street Corp boosted its stake in Candel Therapeutics by 15.0% during the fourth quarter. State Street Corp now owns 792,218 shares of the company's stock valued at $4,476,000 after buying an additional 103,452 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Candel Therapeutics during the second quarter worth about $1,975,000. 13.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 7,000 shares of the company's stock in a transaction that occurred 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 owned 76,865 shares of the company's stock, valued at $922,380. This represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Francesca Barone sold 23,447 shares of the stock in a transaction that occurred 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 transaction, the insider owned 77,362 shares in the company, valued at $778,261.72. The trade was a 23.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,447 shares of company stock valued at $390,017 in the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CADL has been the topic of a number of research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Candel Therapeutics in a research note on Friday, July 17th. HC Wainwright reiterated a "buy" rating and set a $23.00 price target on shares of Candel Therapeutics in a research report on Thursday, August 13th. Bank of America boosted their price objective on Candel Therapeutics from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Friday, August 14th. Zacks Research upgraded shares of Candel Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Finally, UBS Group reaffirmed a "buy" rating on shares of Candel Therapeutics in a research note on Monday, August 17th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Candel Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $19.29.

Candel Therapeutics Price Performance

CADL opened at $13.07 on Tuesday. The business's fifty day simple moving average is $10.69 and its 200 day simple moving average is $7.97. Candel Therapeutics, Inc. has a 52 week low of $4.35 and a 52 week high of $14.00. The company has a quick ratio of 16.09, a current ratio of 16.09 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1.00 billion, a PE ratio of -9.27 and a beta of -0.51.

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