Candel Therapeutics (NASDAQ:CADL) Hits New 52-Week High – Time to Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.45 and last traded at $11.1760, with a volume of 635969 shares. The stock had previously closed at $10.68.

Key Candel Therapeutics News

Here are the key news stories impacting Candel Therapeutics this week:

• Positive Sentiment: HC Wainwright reaffirmed its Buy rating and $23 price target, implying substantial potential upside from recent trading levels. The firm’s outlook reflects expectations for future earnings growth and progress in Candel’s pipeline. HC Wainwright reaffirms Buy rating and price target
• Positive Sentiment: Management highlighted “meaningful execution” toward a biologics license application (BLA) submission in the fourth quarter. Candel is targeting its first commercial product in 2027, making regulatory progress a key catalyst for the stock. CADL rises as biotech targets 2027 commercial launch
• Neutral Sentiment: Bank of America raised its price target from $9 to $12 but maintained a Neutral rating. The revised target is close to the recent share price, suggesting the analyst sees limited near-term upside despite the higher valuation estimate. Bank of America raises CADL price target
• Negative Sentiment: Candel reported a second-quarter loss of $0.52 per share, substantially worse than the $0.27 consensus estimate. The earnings miss highlights continued cash-burn and execution risk for the clinical-stage biotechnology company. Candel second-quarter earnings release
• Negative Sentiment: HC Wainwright modestly reduced its FY2028 and FY2029 EPS estimates to $0.69 and $1.41, respectively. Although the firm retained its Buy rating and $23 target, the estimate cuts indicate slightly lower expectations for Candel’s long-term profitability.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CADL. Cantor Fitzgerald assumed coverage on Candel Therapeutics in a report on Monday, April 20th. They set an “overweight” rating for the company. Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Bank of America raised their price target on Candel Therapeutics from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday. Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday, July 17th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Candel Therapeutics Price Performance

The firm has a market capitalization of $858.72 million, a PE ratio of -8.31 and a beta of -0.51. The firm’s fifty day moving average price is $9.68 and its 200 day moving average price is $7.40. The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34.

Candel Therapeutics (NASDAQ:CADL) last issued its earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.28). As a group, equities analysts forecast that Candel Therapeutics, Inc. will post -0.91 earnings per share for the current year.

Insider Activity

In related news, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.02, for a total transaction of $70,140.00. Following the sale, the chief technology officer directly owned 83,865 shares of the company’s stock, valued at $840,327.30. This trade represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Francesca Barone sold 23,447 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $10.06, for a total value of $235,876.82. Following the completion of the transaction, the insider directly owned 77,362 shares of the company’s stock, valued at $778,261.72. The trade was a 23.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On Candel Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc acquired a new position in shares of Candel Therapeutics during the 2nd quarter worth approximately $63,000. The Manufacturers Life Insurance Company purchased a new position in Candel Therapeutics in the 2nd quarter valued at about $175,000. BlackRock Inc. purchased a new stake in Candel Therapeutics during the 2nd quarter worth approximately $51,181,000. Deutsche Bank AG purchased a new position in shares of Candel Therapeutics in the second quarter valued at approximately $648,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Candel Therapeutics during the second quarter worth approximately $301,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

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.