Candel Therapeutics (NASDAQ:CADL) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Candel Therapeutics (NASDAQ:CADL) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on CADL. Wall Street Zen lowered shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. HC Wainwright reissued a “buy” rating and issued a $23.00 target price on shares of Candel Therapeutics in a research note on Monday, September 29th. Citigroup reduced their price target on Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Wednesday, October 8th. Finally, Stephens reissued an “overweight” rating and set a $15.00 target price on shares of Candel Therapeutics in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.33.

Candel Therapeutics Price Performance

CADL opened at $5.92 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.25 and a quick ratio of 8.25. The stock’s 50 day simple moving average is $5.42 and its 200 day simple moving average is $5.62. The firm has a market cap of $325.01 million, a price-to-earnings ratio of -10.39 and a beta of -0.93. Candel Therapeutics has a 1 year low of $4.25 and a 1 year high of $13.68.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). As a group, analysts predict that Candel Therapeutics will post -1.47 earnings per share for the current year.

Institutional Trading of Candel Therapeutics

A number of hedge funds have recently made changes to their positions in CADL. BNP Paribas Financial Markets increased its position in Candel Therapeutics by 128.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after buying an additional 4,439 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Candel Therapeutics by 361.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after acquiring an additional 7,527 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Candel Therapeutics in the first quarter worth $59,000. Taylor Financial Group Inc. increased its holdings in shares of Candel Therapeutics by 36.0% during the third quarter. Taylor Financial Group Inc. now owns 13,600 shares of the company’s stock valued at $69,000 after acquiring an additional 3,600 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Candel Therapeutics in the 2nd quarter worth about $70,000. 13.93% of the stock is owned by institutional investors.

Candel Therapeutics Company 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.