SCHEDULE 13G: FMR LLC and Abigail P. Johnson Disclose 9.3% Stake in Candel Therapeutics Inc.
Beneficial Ownership Report
FMR LLC and its Chairman and CEO, Abigail P. Johnson, have disclosed a beneficial ownership of 9.3% in Candel Therapeutics Inc.'s common stock as of December 31, 2024.
Summary
- FMR LLC and Abigail P. Johnson reported beneficial ownership of 3,923,599 shares of Candel Therapeutics Inc. common stock.
- This stake represents 9.3% of the total outstanding common stock of Candel Therapeutics Inc.
- The ownership was reported as of December 31, 2024, with the Schedule 13G filing submitted to the SEC on February 6, 2025.
- FMR LLC holds sole voting power over 3,923,034 shares and sole dispositive power over 3,923,599 shares.
- Abigail P. Johnson holds sole dispositive power over 3,923,599 shares, with no sole or shared voting power.
- The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
- A significant portion of the interest, specifically 3,915,674 shares (9.3%), is held by Select Biotechnology Portfolio.
- Fidelity Management & Research Company LLC and Strategic Advisers LLC are identified as relevant entities, with Fidelity Management & Research Company LLC beneficially owning 5% or greater of the outstanding shares.
Sentiment
Score: 5
Explanation: This is a factual regulatory filing disclosing beneficial ownership, which inherently carries a neutral sentiment. It does not contain performance data or forward-looking statements that would typically influence sentiment.
Future Outlook
NA
Management Comments
- "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."
- "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct."
Industry Context
This filing is a standard disclosure of a significant passive investment by a major institutional asset manager (FMR LLC, parent of Fidelity Investments) in a biotechnology company. It reflects an investment decision rather than a direct industry trend, though large institutional holdings are common across various sectors.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional shareholder's stake, which can influence market perception and liquidity. The disclosure of a large, passive stake by a reputable firm like FMR LLC might be viewed positively by other investors.
- Company Management: Awareness of a large, passive institutional holder, though the filing explicitly states no intent to influence control.
Key Dates
| Date | Description |
|---|---|
| 01/12/1998 | Date of Securities and Exchange Commission Release No. 34-39538, regarding disaggregation of beneficial ownership. |
| 01/03/2023 | Effective date of Power of Attorney for FMR LLC, incorporated by reference in a Schedule 13G filed on January 10, 2023. |
| 01/10/2023 | Date of Schedule 13G filing by FMR LLC where Power of Attorney (accession number -23-000003) was incorporated by reference. |
| 01/26/2023 | Effective date of Power of Attorney for Abigail P. Johnson, incorporated by reference in a Schedule 13G filed on January 31, 2023. |
| 01/31/2023 | Date of Schedule 13G filing by FMR LLC where Power of Attorney (accession number -23-000038) for Abigail P. Johnson was incorporated by reference. |
| 12/31/2024 | Date of event which requires filing of this statement, representing the ownership stake determination date. |
| 02/06/2025 | Date of filing and signature by FMR LLC and Abigail P. Johnson for this Schedule 13G. |
Keywords
Candel Therapeutics Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Biotechnology, Investment Management
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