Candel Therapeutics, Inc. (NASDAQ:CADL) Given Consensus Rating of “Hold” by Analysts

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) have been given an average recommendation of “Hold” by the nine research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $18.00.

Several equities analysts recently weighed in on CADL shares. Zacks Research downgraded Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Monday, April 20th. Citigroup reduced their target price on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 target price on shares of Candel Therapeutics in a research report on Friday, March 13th. Finally, Cantor Fitzgerald started coverage on Candel Therapeutics in a research report on Monday, April 20th. They set an “overweight” rating on the stock.

Insider Buying and Selling

In other news, Director Paul B. Manning purchased 550,458 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was bought at an average cost of $5.45 per share, for a total transaction 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 $15,061,222.15. The trade was a 24.87% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Candel Therapeutics

A number of hedge funds have recently bought and sold shares of CADL. Invesco Ltd. acquired a new stake in Candel Therapeutics during the 1st quarter valued at approximately $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Candel Therapeutics by 37.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company’s stock valued at $95,000 after purchasing an additional 4,583 shares in the last quarter. Rhumbline Advisers grew its stake in Candel Therapeutics by 26.8% during the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock valued at $188,000 after purchasing an additional 7,030 shares in the last quarter. Geode Capital Management LLC grew its stake in Candel Therapeutics by 31.5% during the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock valued at $4,575,000 after purchasing an additional 216,509 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Candel Therapeutics by 36.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock valued at $99,000 after purchasing an additional 5,270 shares in the last quarter. Institutional investors and hedge funds own 13.93% of the company’s stock.

Candel Therapeutics Stock Up 6.0%

Shares of NASDAQ:CADL opened at $8.85 on Thursday. The stock’s fifty day simple moving average is $5.61 and its 200-day simple moving average is $5.52. Candel Therapeutics has a 52-week low of $4.35 and a 52-week high of $9.26. The company has a market capitalization of $648.44 million, a P/E ratio of -12.46 and a beta of -0.59. The company has a quick ratio of 13.49, a current ratio of 13.49 and a debt-to-equity ratio of 0.91.

Candel Therapeutics (NASDAQ:CADL) last released 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, equities research analysts forecast that Candel Therapeutics will post -0.94 earnings per share for the current fiscal year.

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.