Candel Therapeutics (NASDAQ:CADL) Releases Earnings Results

Candel Therapeutics (NASDAQ:CADL) announced its quarterly earnings data on Thursday. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.30), FiscalAI reports.

Candel Therapeutics Price Performance

NASDAQ CADL traded up $1.13 during trading hours on Thursday, reaching $11.81. The company’s stock had a trading volume of 1,603,134 shares, compared to its average volume of 1,523,831. The company has a debt-to-equity ratio of 0.34, a quick ratio of 28.05 and a current ratio of 28.05. The company’s 50-day moving average is $9.57 and its two-hundred day moving average is $7.33. Candel Therapeutics has a fifty-two week low of $4.35 and a fifty-two week high of $11.65. The stock has a market cap of $865.17 million, a PE ratio of -12.05 and a beta of -0.51.

Analysts Set New Price Targets

Several equities analysts recently commented on CADL shares. Zacks Research raised Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Cantor Fitzgerald started coverage on Candel Therapeutics in a report on Monday, April 20th. They set an “overweight” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price objective on shares of Candel Therapeutics in a research report on Thursday. Stifel Nicolaus initiated coverage on Candel Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.57.

Insider Buying and Selling

In other Candel Therapeutics news, insider Francesca Barone sold 23,447 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $10.06, for a total transaction of $235,876.82. Following the sale, the insider owned 77,362 shares in the company, valued at approximately $778,261.72. This represents a 23.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction 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 transaction, the chief technology officer directly owned 83,865 shares of the company’s stock, valued at $840,327.30. The trade was a 7.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 14.30% of the company’s stock.

Institutional Trading of Candel Therapeutics

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Candel Therapeutics by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock worth $10,236,000 after purchasing an additional 219,563 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 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 in the last quarter. State Street Corp lifted its holdings in 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 in the last quarter. Millennium Management LLC purchased a new position in Candel Therapeutics in the 3rd quarter valued at about $697,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Candel Therapeutics by 180.9% during the 4th quarter. Wells Fargo & Company MN now owns 73,899 shares of the company’s stock worth $418,000 after purchasing an additional 47,588 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company’s stock.

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.