Candel Therapeutics (NASDAQ:CADL) Hits New 1-Year High – Here’s Why

Candel Therapeutics, Inc. (NASDAQ:CADL) shares reached a new 52-week high during trading on Thursday . The company traded as high as $9.57 and last traded at $9.5360, with a volume of 425442 shares traded. The stock had previously closed at $9.27.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup reduced their price target on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Cantor Fitzgerald started coverage on Candel Therapeutics in a report on Monday, April 20th. They set an “overweight” rating on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 target price on shares of Candel Therapeutics in a research note on Friday, March 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Monday, April 20th. Finally, Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Candel Therapeutics Price Performance

The company’s 50-day moving average price is $7.83 and its 200-day moving average price is $6.31. The company has a quick ratio of 28.05, a current ratio of 28.05 and a debt-to-equity ratio of 0.34. The firm has a market cap of $687.35 million, a price-to-earnings ratio of -9.57 and a beta of -0.49.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.16. On average, equities research analysts forecast that Candel Therapeutics, Inc. will post -0.97 EPS for the current year.

Institutional Trading of Candel Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new stake in shares of Candel Therapeutics during the first quarter worth $845,000. Renaissance Technologies LLC purchased a new position in shares of Candel Therapeutics in the 1st quarter valued at about $63,000. AlphaCentric Advisors LLC acquired a new position in shares of Candel Therapeutics during the 1st quarter worth $178,000. Bank of New York Mellon Corp boosted its holdings in shares of Candel Therapeutics by 43.1% in the 1st quarter. Bank of New York Mellon Corp now owns 136,266 shares of the company’s stock valued at $668,000 after purchasing an additional 41,058 shares during the last quarter. Finally, Halter Ferguson Financial Inc. grew its position in shares of Candel Therapeutics by 20.9% in the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock worth $4,430,000 after acquiring an additional 155,996 shares in the last quarter. 13.93% of the stock is owned by institutional investors and hedge funds.

About Candel Therapeutics

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.