Candel Therapeutics, Inc. (NASDAQ:CADL) Receives Average Recommendation of “Hold” from Analysts

Candel Therapeutics, Inc. (NASDAQ:CADL) has received an average rating of “Hold” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $18.00.

Several research analysts have weighed in on CADL shares. Citigroup reduced their target price on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Wednesday, January 21st. Zacks Research lowered Candel Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 target price on shares of Candel Therapeutics in a report on Friday, March 13th.

Insider Activity

In other news, Director Paul B. Manning purchased 550,458 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were purchased at an average price of $5.45 per share, with a total value of $2,999,996.10. Following the purchase, the director directly owned 2,763,527 shares of the company’s stock, valued at $15,061,222.15. This trade represents a 24.87% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 16.60% of the stock is owned by corporate insiders.

Institutional Trading of Candel Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Acorn Capital Advisors LLC raised its stake in shares of Candel Therapeutics by 19.9% in the 2nd quarter. Acorn Capital Advisors LLC now owns 2,580,517 shares of the company’s stock valued at $13,057,000 after purchasing an additional 428,265 shares during the period. Vanguard Group Inc. raised its stake in shares of Candel Therapeutics by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after purchasing an additional 219,563 shares during the period. Geode Capital Management LLC raised its stake in shares of Candel Therapeutics by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 977,512 shares of the company’s stock valued at $5,524,000 after purchasing an additional 49,315 shares during the period. State Street Corp raised its stake in shares of Candel Therapeutics by 15.0% in the 4th quarter. State Street Corp now owns 792,218 shares of the company’s stock valued at $4,476,000 after purchasing an additional 103,452 shares during the period. Finally, Halter Ferguson Financial Inc. raised its stake in shares of Candel Therapeutics by 7.2% in the 4th quarter. Halter Ferguson Financial Inc. now owns 748,055 shares of the company’s stock valued at $4,227,000 after purchasing an additional 50,051 shares during the period. Institutional investors and hedge funds own 13.93% of the company’s stock.

Candel Therapeutics Stock Performance

CADL stock opened at $6.37 on Friday. The business’s 50-day moving average price is $5.14 and its two-hundred day moving average price is $5.39. The company has a current ratio of 13.49, a quick ratio of 13.49 and a debt-to-equity ratio of 0.91. The firm has a market cap of $466.58 million, a PE ratio of -8.97 and a beta of -0.81. Candel Therapeutics has a 1-year low of $4.34 and a 1-year high of $7.25.

Candel Therapeutics (NASDAQ:CADL) last posted its earnings results on Thursday, March 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.30). As a group, research analysts forecast that Candel Therapeutics will post -1.47 earnings per share for the current year.

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.