Director Paul B. Manning completed a purchase of 550,458 shares of common stock in Candel Therapeutics, Inc. (NASDAQ: CADL) on February 23, 2026. The shares were acquired at $5.45 apiece, resulting in a transaction value of $2,999,996.
The purchase took place while CADL was quoted at $5.15. A separate analysis from InvestingPro included in company commentary suggests the stock appears undervalued at the trading level reported.
Following the February 23 acquisition, Manning's direct ownership of Candel Therapeutics common stock stands at 1,681,000 shares. That total includes shares he holds jointly with his spouse.
In addition to his direct holdings, Manning has indirect positions disclosed in company filings. He is reported to indirectly hold 2,763,527 shares through The Paul B. Manning Revocable Trust and 1,303,752 shares through BKB Growth Investments, LLC. Manning has explicitly disclaimed beneficial ownership of the shares held through those entities except to the extent of his pecuniary interest.
The disclosure also notes that InvestingPro subscribers are provided access to six additional tips about CADL's financial positioning.
Separately, Candel Therapeutics announced the pricing of a public offering intended to raise approximately $100 million by selling 18,348,624 shares at a public offering price of $5.45 per share. The company stated that this figure represents gross proceeds before deduction of underwriting discounts and commissions.
The offering is expected to close on or about February 23, 2026, subject to customary closing conditions. Under the terms of the offering, underwriters have been granted a 30-day option to purchase up to an additional 2,752,293 shares at the same public offering price, less the underwriting discount.
The announced transactions - Manning's reported purchase and the concurrently priced public offering - are set out in the company's recent filings as part of its current financing activity.