Portolan Capital Management LLC Acquires New Position in Candel Therapeutics, Inc. (NASDAQ:CADL)

Portolan Capital Management LLC acquired a new stake in shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 753,745 shares of the company's stock, valued at approximately $6,543,000. Portolan Capital Management LLC owned about 2.32% of Candel Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CADL. Rhumbline Advisers lifted 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 worth $228,000 after purchasing an additional 3,817 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Candel Therapeutics during the 4th quarter worth $329,000. FMR LLC bought a new stake in shares of Candel Therapeutics during the 3rd quarter valued at $46,000. Geode Capital Management LLC increased its stake in shares of Candel Therapeutics by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 448,997 shares of the company's stock worth $3,112,000 after purchasing an additional 51,111 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 worth $453,000 after purchasing an additional 5,413 shares during the period. Institutional investors own 13.93% of the company's stock.

Candel Therapeutics Stock Up 0.9 %

NASDAQ CADL traded up $0.04 on Friday, reaching $4.57. The company had a trading volume of 533,867 shares, compared to its average volume of 1,458,629. The firm's 50 day moving average price is $7.40 and its 200 day moving average price is $6.80. Candel Therapeutics, Inc. has a 12 month low of $3.79 and a 12 month high of $14.60. The stock has a market capitalization of $215.86 million, a PE ratio of -2.64 and a beta of -0.95.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.17). On average, research analysts expect that Candel Therapeutics, Inc. will post -1.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America initiated coverage on Candel Therapeutics in a research report on Friday, February 7th. They set a "buy" rating and a $15.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and issued a $19.00 price target on shares of Candel Therapeutics in a research report on Friday, April 11th. Canaccord Genuity Group raised their price objective on shares of Candel Therapeutics from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Citigroup began coverage on shares of Candel Therapeutics in a report on Thursday, February 20th. They issued a "buy" rating and a $25.00 target price for the company.

Insider Activity

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 31,278 shares of the stock in a transaction 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 in the company, valued at $754,215.84. This trade represents a 26.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles Schoch sold 5,000 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $44,150.00. Following the completion of the transaction, the insider now owns 38,038 shares in the company, valued at approximately $335,875.54. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 41.60% of the company's stock.

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.