Candel Therapeutics (NASDAQ:CADL) Rating Increased to Hold at Zacks Research

Candel Therapeutics (NASDAQ:CADL) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts have also issued reports about the stock. Wall Street Zen lowered shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Wednesday, January 21st. Stephens restated an “overweight” rating and issued a $15.00 target price on shares of Candel Therapeutics in a research note on Monday, December 8th. Finally, Citigroup dropped their price target on Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Candel Therapeutics Trading Down 0.4%

NASDAQ CADL opened at $5.11 on Monday. The stock has a market cap of $280.54 million, a P/E ratio of -8.96 and a beta of -0.91. Candel Therapeutics has a fifty-two week low of $4.25 and a fifty-two week high of $9.08. The stock has a 50 day simple moving average of $5.63 and a two-hundred day simple moving average of $5.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.25 and a current ratio of 8.25.

Insider Activity at Candel Therapeutics

In related news, Director Paul B. Manning purchased 550,458 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were bought at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the purchase, the director directly owned 2,763,527 shares of the company’s stock, valued at approximately $15,061,222.15. This represents a 24.87% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Candel Therapeutics

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of Candel Therapeutics by 128.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock worth $40,000 after purchasing an additional 4,439 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Candel Therapeutics during the fourth quarter valued at approximately $51,000. Tower Research Capital LLC TRC raised its holdings in Candel Therapeutics by 361.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after acquiring an additional 7,527 shares during the last quarter. Invesco Ltd. bought a new position in Candel Therapeutics in the 1st quarter valued at approximately $59,000. Finally, ProShare Advisors LLC purchased a new stake in Candel Therapeutics during the 4th quarter valued at $59,000. 13.93% of the stock is owned by hedge funds and other institutional investors.

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.