CADL Candel Therapeutics, Inc. Insider Trading

Director Manning Paul B purchases 550,458 shares of CADL at $5.45 for $3.0M; stock down 55.7% from 52-week high.

Director Manning Paul B acquired 550,458 shares at $5.45 on 2026-02-23, increasing his holdings from 2,213,069 to 2,763,527 shares (a 24.9% increase in his position). The stock is presently trading at $5.15, down 15.6% over the prior 30 days and 55.7% below its 52-week high of $11.63. Notably, his prior two buys at CADL (both on 2024-12-16) were well-timed, posting 90-day gains of 45.8% each, establishing a pattern of successful entry decisions at this ticker. However, the company's fundamentals remain challenged: Candel posted a quarterly revenue of $31,000.00 with a net income of $-11,269,000.00, zero annual revenue growth, and remains unprofitable on a full-year basis despite a market cap of $282.7M. The current purchase at depressed valuations coincides with deteriorating momentum (30-day decline of 15.6%), distinguishing it from his prior constructive entries at this ticker.

Director Paul B Manning buys 1,250,000 shares for $7,500,000 at CADL in 2 transactions on 2024-12-16

Director Manning executed 2 separate purchases totaling 1,250,000 shares (1.25M shares) for $7,500,000.00 at $6.00 per share on 2024-12-16, expanding his position from 53,752 shares to 1,303,752 shares—a +2325.5% increase. This substantial capital commitment comes as the company reports negative fundamentals: Revenue of $31,000.00 in the latest quarter, Net income of $-10,646,000.00, and zero annual revenue growth, with market cap at $212.1M. The timing coincides with a 30-day price surge of +65.1%, placing the current price of $6.53 down 53.4% from the 52-week high of $14.00. Manning's cross-ticker track record shows 8 prior buys with an average 90-day return of +32.8% and 80% win rate, yet this metric reflects his performance across all holdings, not specifically at this unprofitable biotech company facing significant operational challenges.