Candel Therapeutics (NASDAQ:CADL) Raised to Hold at Wall Street Zen

Candel Therapeutics (NASDAQ:CADL) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Stifel Nicolaus began coverage on shares of Candel Therapeutics in a research note on Monday, July 13th. They set a “buy” rating and a $22.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Friday, July 17th. Cantor Fitzgerald initiated coverage on shares of Candel Therapeutics in a research note on Monday, April 20th. They issued an “overweight” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $23.00 price target on shares of Candel Therapeutics in a research note on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.57.

Candel Therapeutics Price Performance

CADL opened at $10.59 on Friday. The stock’s 50 day moving average price is $9.44 and its 200 day moving average price is $7.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 28.05 and a quick ratio of 28.05. The stock has a market cap of $775.93 million, a P/E ratio of -10.81 and a beta of -0.51. Candel Therapeutics has a 12 month low of $4.35 and a 12 month high of $11.36.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.16. As a group, research analysts predict that Candel Therapeutics will post -0.91 earnings per share for the current year.

Insiders Place Their Bets

In other Candel Therapeutics news, insider Francesca Barone sold 23,447 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.06, for a total value of $235,876.82. Following the transaction, the insider directly owned 77,362 shares of the company’s stock, valued at $778,261.72. This represents a 23.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Seshu Tyagarajan sold 7,000 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $10.02, for a total value of $70,140.00. Following the completion of the transaction, the chief technology officer owned 83,865 shares in the company, valued at $840,327.30. This represents a 7.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Halter Ferguson Financial Inc. increased its stake in Candel Therapeutics by 20.9% during the first quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock valued at $4,430,000 after acquiring an additional 155,996 shares during the period. Walleye Capital LLC bought a new stake in shares of Candel Therapeutics in the 2nd quarter worth approximately $419,000. Janus Henderson Group PLC acquired a new stake in shares of Candel Therapeutics during the 1st quarter worth approximately $845,000. Renaissance Technologies LLC acquired a new stake in shares of Candel Therapeutics during the 1st quarter worth approximately $63,000. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Candel Therapeutics during the first quarter valued at approximately $178,000. 13.93% of the stock is owned by institutional investors and hedge funds.

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.