Acorn Capital Advisors LLC Acquires 212,608 Shares of Candel Therapeutics, Inc. $CADL

Key Points

• Acorn Capital Advisors LLC increased its stake in Candel Therapeutics by 11.0%, now owning over 2.15 million shares valued at approximately $12.16 million.
• Recent analyst actions include upgrades by HC Wainwright to a "buy" rating with a $23 price target and a downgrade by Bank of America from "buy" to "neutral" with a lower price objective of $7.
• Candel Therapeutics has reported a 12-month low of $3.79 and a high of $14.60, with its shares opening at $5.10 recently.

Acorn Capital Advisors LLC grew its holdings in shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) by 11.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,152,252 shares of the company's stock after acquiring an additional 212,608 shares during the quarter. Candel Therapeutics comprises approximately 7.9% of Acorn Capital Advisors LLC's holdings, making the stock its 5th largest position. Acorn Capital Advisors LLC owned approximately 4.37% of Candel Therapeutics worth $12,160,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Candel Therapeutics by 37.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company's stock valued at $95,000 after buying an additional 4,583 shares during the period. Corebridge Financial Inc. lifted its holdings in shares of Candel Therapeutics by 29.4% in the first quarter. Corebridge Financial Inc. now owns 13,933 shares of the company's stock valued at $79,000 after buying an additional 3,163 shares during the period. AlphaQuest LLC acquired a new stake in shares of Candel Therapeutics in the first quarter valued at $61,000. EntryPoint Capital LLC acquired a new stake in shares of Candel Therapeutics in the first quarter valued at $101,000. Finally, Nuveen LLC acquired a new stake in shares of Candel Therapeutics in the first quarter valued at $442,000. Institutional investors and hedge funds own 13.93% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CADL. Bank of America downgraded Candel Therapeutics from a "buy" rating to a "neutral" rating and reduced their target price for the company from $13.00 to $7.00 in a report on Wednesday, September 3rd. HC Wainwright raised Candel Therapeutics to a "buy" rating and set a $23.00 target price for the company in a report on Monday, June 30th. Brookline Capital Management raised Candel Therapeutics to a "strong-buy" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen downgraded Candel Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Candel Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $20.00.

Candel Therapeutics Stock Down 2.4%

CADL stock traded down $0.12 during mid-day trading on Friday, hitting $4.79. The stock had a trading volume of 786,529 shares, compared to its average volume of 687,977. The company has a current ratio of 7.04, a quick ratio of 7.04 and a debt-to-equity ratio of 0.01. Candel Therapeutics, Inc. has a 1-year low of $3.79 and a 1-year high of $14.60. The company has a fifty day moving average of $5.98 and a 200 day moving average of $5.90. The stock has a market capitalization of $262.97 million, a price-to-earnings ratio of -6.94 and a beta of -0.90.

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