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Charles Schoch, the Interim Chief Financial Officer of Candel Therapeutics , Inc. (NASDAQ:CADL), recently sold 5,000 shares of the company’s common stock. The shares were sold at a weighted average price of $8.83 per share, resulting in a total transaction value of $44,169. The sale comes as CADL shares have surged nearly 490% over the past year, with the stock currently trading at $8.90. According to InvestingPro data, analysts maintain price targets ranging from $15 to $25 for the stock. This transaction was executed under a pre-established 10b5-1 trading plan, which Schoch adopted on November 15, 2024.
Following this sale, Schoch retains ownership of 38,038 shares in the company. The shares were sold in multiple transactions with prices ranging from $8.74 to $8.98 per share. Schoch has committed to providing detailed information about the individual sale prices upon request.
In other recent news, Candel Therapeutics has reported significant advancements in its clinical trials for the cancer treatment CAN-2409. The company announced favorable results from its Phase 3 study for prostate cancer, demonstrating a statistically significant improvement in disease-free survival. Additionally, the Phase 2 trial for pancreatic ductal carcinoma showed a notable increase in median overall survival, with patients receiving CAN-2409 plus standard care living significantly longer than those on standard care alone. These promising outcomes have led to continued positive ratings from analysts. H.C. Wainwright maintained a Buy rating with a $19.00 price target, while Citi initiated coverage with a Buy rating and a $25.00 price target. The company’s Chief Medical (TASE:BLWV) Officer highlighted the potential of CAN-2409 to induce a sustained immune response, further bolstering its therapeutic promise. Candel Therapeutics is preparing for a larger, late-stage trial in pancreatic cancer and anticipates additional near-term catalysts, including upcoming data on non-small cell lung cancer. The ongoing developments reflect growing confidence in Candel’s innovative approach to cancer treatment.
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