Candel Therapeutics (NASDAQ:CADL) Shares Gap Up – What’s Next?

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) gapped up before the market opened on Monday. The stock had previously closed at $8.03, but opened at $8.44. Candel Therapeutics shares last traded at $7.9750, with a volume of 40,184 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CADL. UBS Group restated a “buy” rating on shares of Candel Therapeutics in a research note on Monday, August 17th. HC Wainwright restated a “buy” rating on shares of Candel Therapeutics in a research report on Friday, October 2nd. Bank of America upgraded Candel Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $12.00 to $18.00 in a research report on Monday, September 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Thursday, October 15th. Finally, Stifel Nicolaus assumed coverage on Candel Therapeutics in a research report on Monday, July 13th. They issued a “buy” rating and a $22.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

Candel Therapeutics Price Performance

The company’s 50 day simple moving average is $11.10 and its two-hundred day simple moving average is $9.47. The stock has a market capitalization of $613.69 million, a P/E ratio of -5.69 and a beta of -0.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 16.09 and a quick ratio of 16.09.

Candel Therapeutics (NASDAQ:CADL) last announced its earnings results on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.28). As a group, equities analysts expect that Candel Therapeutics, Inc. will post -1.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $12.00, for a total value of $84,000.00. Following the completion of the sale, the chief technology officer owned 76,865 shares in the company, valued at approximately $922,380. This trade represents a 8.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 14.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Candel Therapeutics

A number of large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its holdings in Candel Therapeutics by 12.6% in the first quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company’s stock worth $149,000 after purchasing an additional 3,400 shares during the period. Krilogy Financial LLC increased its position in shares of Candel Therapeutics by 25.3% in the 1st quarter. Krilogy Financial LLC now owns 30,065 shares of the company’s stock valued at $155,000 after buying an additional 6,065 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Candel Therapeutics in the 2nd quarter valued at $63,000. HB Wealth Management LLC raised its stake in Candel Therapeutics by 15.3% during the 1st quarter. HB Wealth Management LLC now owns 67,245 shares of the company’s stock worth $330,000 after buying an additional 8,900 shares during the period. Finally, AXQ Capital LP raised its stake in Candel Therapeutics by 50.8% during the 2nd quarter. AXQ Capital LP now owns 31,460 shares of the company’s stock worth $324,000 after buying an additional 10,596 shares during the period. 13.93% of the stock is currently owned by institutional investors and hedge funds.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc is a clinical-stage biopharmaceutical company developing biological immunotherapies designed to stimulate the immune system to recognize and attack cancer. The company’s approach uses engineered viral therapies intended to promote immunogenic cell death and generate broader, potentially systemic antitumor immune responses.

Candel’s pipeline includes CAN-3110, an investigational oncolytic immunotherapy based on a genetically engineered herpes simplex virus type 1.