Cookson Peirce & Co. Inc. Takes $618,000 Position in Candel Therapeutics, Inc. $CADL

Cookson Peirce & Co. Inc. acquired a new position in shares of Candel Therapeutics, Inc. (NASDAQ:CADL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 60,000 shares of the company’s stock, valued at approximately $618,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its stake in Candel Therapeutics by 4.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,517 shares of the company’s stock worth $240,000 after buying an additional 2,000 shares during the period. Invesco Ltd. boosted its holdings in Candel Therapeutics by 29.0% in the fourth quarter. Invesco Ltd. now owns 15,039 shares of the company’s stock worth $85,000 after acquiring an additional 3,380 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Candel Therapeutics by 12.6% in the first quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company’s stock valued at $149,000 after acquiring an additional 3,400 shares during the period. MetLife Investment Management LLC grew its stake in Candel Therapeutics by 25.5% in the fourth quarter. MetLife Investment Management LLC now owns 19,443 shares of the company’s stock valued at $110,000 after acquiring an additional 3,955 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Candel Therapeutics by 128.2% during the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after acquiring an additional 4,439 shares in the last quarter. 13.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Bank of America increased their target price on Candel Therapeutics from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of Candel Therapeutics in a report on Thursday, August 13th. Stifel Nicolaus initiated coverage on shares of Candel Therapeutics in a research note on Monday, July 13th. They issued a “buy” rating and a $22.00 price objective on the stock. Wall Street Zen lowered shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Finally, Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Candel Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Insider Buying and Selling

In other news, insider Francesca Barone sold 23,447 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $10.06, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Seshu Tyagarajan sold 7,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $12.00, for a total value of $84,000.00. Following the sale, the chief technology officer directly owned 76,865 shares of the company’s stock, valued at $922,380. The trade was a 8.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 37,447 shares of company stock worth $390,017 in the last 90 days. Company insiders own 14.30% of the company’s stock.

Candel Therapeutics Stock Performance

NASDAQ CADL opened at $13.07 on Monday. Candel Therapeutics, Inc. has a 1 year low of $4.35 and a 1 year high of $14.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 16.09 and a quick ratio of 16.09. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -9.27 and a beta of -0.51. The company has a fifty day moving average price of $10.61 and a 200-day moving average price of $7.91.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). As a group, equities research analysts predict that Candel Therapeutics, Inc. will post -1.29 EPS for the current fiscal year.

Candel Therapeutics Profile

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.