Tanager Wealth Management LLP Purchases New Shares in Candel Therapeutics, Inc. $CADL

Key Points

• Tanager Wealth Management LLP recently acquired 196,631 shares of Candel Therapeutics, valued at approximately $995,000, increasing their ownership to about 0.39% of the company.
• Candel Therapeutics' stock rose 8.6% and has a market capitalization of $304.15 million, with a current price of $5.54.
• Analysts have mixed ratings on Candel Therapeutics, with price targets ranging from $7.00 to $23.00, and a consensus target price of $20.00.

Tanager Wealth Management LLP acquired a new stake in shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 196,631 shares of the company's stock, valued at approximately $995,000. Tanager Wealth Management LLP owned about 0.39% of Candel Therapeutics as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in Candel Therapeutics during the fourth quarter valued at $30,000. Taylor Financial Group Inc. bought a new position in Candel Therapeutics during the first quarter valued at $56,000. Private Advisor Group LLC bought a new position in Candel Therapeutics during the first quarter valued at $58,000. Invesco Ltd. bought a new position in Candel Therapeutics during the first quarter valued at $59,000. Finally, AlphaQuest LLC bought a new position in Candel Therapeutics during the first quarter valued at $61,000. Institutional investors own 13.93% of the company's stock.

Candel Therapeutics Stock Up 8.6%

Shares of Candel Therapeutics stock opened at $5.54 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.04 and a quick ratio of 7.04. Candel Therapeutics, Inc. has a 1 year low of $3.79 and a 1 year high of $14.60. The firm's 50-day moving average is $5.69 and its two-hundred day moving average is $5.62. The stock has a market cap of $304.15 million, a price-to-earnings ratio of -8.03 and a beta of -0.94.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.08. As a group, research analysts expect that Candel Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America cut shares of Candel Therapeutics from a "buy" rating to a "neutral" rating and cut their price objective for the company from $13.00 to $7.00 in a research report on Wednesday, September 3rd. Wall Street Zen upgraded shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. HC Wainwright restated a "buy" rating and issued a $23.00 price target on shares of Candel Therapeutics in a report on Monday. Finally, Brookline Capital Management upgraded shares of Candel Therapeutics to a "strong-buy" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Candel Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $20.00.

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.

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