Candel Therapeutics (NASDAQ:CADL) Earns “Buy” Rating from Canaccord Genuity Group

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity Group in a report released on Friday,Benzinga reports. They currently have a $25.00 price objective on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 432.48% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Wednesday, January 21st. Stephens reissued an “overweight” rating and issued a $15.00 price target on shares of Candel Therapeutics in a report on Monday, December 8th. Wall Street Zen lowered shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Citigroup decreased their price target on shares of Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Candel Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $18.33.

Candel Therapeutics Stock Performance

Shares of Candel Therapeutics stock traded down $0.29 during trading hours on Friday, reaching $4.70. The company had a trading volume of 1,040,777 shares, compared to its average volume of 1,078,199. Candel Therapeutics has a one year low of $4.25 and a one year high of $9.08. The business has a fifty day simple moving average of $5.61 and a 200 day simple moving average of $5.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.25 and a quick ratio of 8.25. The firm has a market cap of $257.76 million, a PE ratio of -8.24 and a beta of -0.91.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). On average, analysts anticipate that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Candel Therapeutics news, Director Paul B. Manning purchased 550,458 shares of the stock in a transaction on Monday, February 23rd. The stock was acquired at an average cost of $5.45 per share, with a total value of $2,999,996.10. Following the completion of the purchase, the director directly owned 2,763,527 shares of the company’s stock, valued at approximately $15,061,222.15. This trade represents a 24.87% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CADL. Acorn Capital Advisors LLC boosted its holdings in Candel Therapeutics by 19.9% in the second quarter. Acorn Capital Advisors LLC now owns 2,580,517 shares of the company’s stock valued at $13,057,000 after acquiring an additional 428,265 shares in the last quarter. Vanguard Group Inc. lifted its position 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 worth $10,236,000 after purchasing an additional 219,563 shares during the period. Geode Capital Management LLC lifted its position 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 worth $5,524,000 after purchasing an additional 49,315 shares during the period. State Street Corp boosted its stake in shares of Candel Therapeutics by 15.0% during 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. Finally, Halter Ferguson Financial Inc. boosted its stake in shares of Candel Therapeutics by 7.2% during 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 in the last quarter. Hedge funds and other institutional investors 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.