Candel Therapeutics (NASDAQ:CADL) Price Target Cut to $19.00 by Analysts at Stifel Nicolaus

Candel Therapeutics (NASDAQ:CADL) had its target price reduced by Stifel Nicolaus from $22.00 to $19.00 in a research note issued to investors on Friday morning, MarketBeat reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on CADL. UBS Group reiterated a “buy” rating on shares of Candel Therapeutics in a report on Monday, August 17th. Jefferies Financial Group started coverage on shares of Candel Therapeutics in a report on Thursday, October 22nd. They set a “buy” rating and a $25.00 price target for the company. Bank of America upgraded shares of Candel Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $12.00 to $18.00 in a report on Monday, September 21st. Zacks Research downgraded shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Thursday, October 15th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.57.

Candel Therapeutics Trading Down 26.1%

NASDAQ CADL opened at $6.20 on Friday. The firm has a market capitalization of $474.42 million, a PE ratio of -4.19 and a beta of -0.27. The business’s 50-day moving average price is $9.75 and its two-hundred day moving average price is $8.39. The company has a current ratio of 16.09, a quick ratio of 16.09 and a debt-to-equity ratio of 0.38. Candel Therapeutics has a 12 month low of $4.35 and a 12 month high of $14.00.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings data on Friday, November 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. On average, analysts expect that Candel Therapeutics will post -1.29 EPS for the current year.

Insiders Place Their Bets

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 7,000 shares of the stock in a transaction dated Monday, August 17th. The stock was 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 in the company, valued at approximately $922,380. This trade represents a 8.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Candel Therapeutics during the 3rd quarter valued at about $41,000. Renaissance Technologies LLC acquired a new stake in Candel Therapeutics during the first quarter worth approximately $63,000. Legal & General Group Plc acquired a new stake in Candel Therapeutics during the second quarter worth approximately $63,000. Janney Montgomery Scott LLC grew its stake in Candel Therapeutics by 12.6% during the first quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company’s stock worth $149,000 after purchasing an additional 3,400 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Candel Therapeutics by 19.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,962 shares of the company’s stock worth $152,000 after purchasing an additional 2,301 shares in the last quarter. 13.93% of the stock is owned by institutional investors and hedge funds.

Candel Therapeutics News Summary

These are some of the CADL news items that stood out recently:

• Positive Sentiment: Candel reported a third-quarter loss of $0.28 per share, narrower than analysts’ expected loss of $0.34. Third-quarter results and corporate update
• Positive Sentiment: HC Wainwright, Canaccord Genuity and Stifel lowered their price targets but maintained Buy ratings, signaling continued analyst optimism despite the revised outlook.
• Negative Sentiment: Law firm Block & Leviton announced an investigation into whether Candel misled investors. The announcement describes an investigation, not a finding of wrongdoing. Securities investigation announcement

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.