Candel Therapeutics (NASDAQ:CADL) Issues Earnings Results, Beats Expectations By $0.06 EPS

Candel Therapeutics (NASDAQ:CADL) announced its quarterly earnings results on Thursday. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06, FiscalAI reports.

Candel Therapeutics Stock Down 9.0%

Shares of NASDAQ CADL traded down $0.83 during trading on Thursday, reaching $8.39. 1,613,189 shares of the stock were exchanged, compared to its average volume of 1,423,935. The company has a market capitalization of $641.99 million, a price-to-earnings ratio of -5.95 and a beta of -0.27. The business’s 50-day moving average price is $9.99 and its 200 day moving average price is $8.38. The company has a quick ratio of 16.09, a current ratio of 16.09 and a debt-to-equity ratio of 0.38. Candel Therapeutics has a twelve month low of $4.35 and a twelve month high of $14.00.

Insiders Place Their Bets

In related news, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $12.00, for a total transaction of $84,000.00. Following the completion of the sale, the chief technology officer directly owned 76,865 shares of the company’s stock, valued at approximately $922,380. This trade represents a 8.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CADL has been the topic of several research reports. Jefferies Financial Group began coverage on Candel Therapeutics in a research report on Thursday, October 22nd. They issued a “buy” rating and a $25.00 price objective on the stock. Bank of America upgraded Candel Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $18.00 in a research note on Monday, September 21st. HC Wainwright reaffirmed a “buy” rating on shares of Candel Therapeutics in a research report on Friday, October 2nd. Zacks Research lowered Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. Finally, Wall Street Zen downgraded Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. Nine analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Candel Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $21.43.

About Candel Therapeutics

Candel Therapeutics is a clinical-stage biotechnology company developing viral immunotherapies designed to stimulate the immune system to fight cancer. Its approach uses engineered viruses to trigger immune responses against tumors. The company’s clinical-stage programs include CAN-2409, an adenovirus-based therapy being studied in several solid tumors, and CAN-3110, an oncolytic herpes simplex virus therapy being investigated for recurrent glioblastoma. Based in Needham, Massachusetts, Candel conducts clinical development of its therapies for cancer indications.