Citigroup Cuts Candel Therapeutics (NASDAQ:CADL) Price Target to $22.00

Candel Therapeutics (NASDAQ:CADL) had its target price dropped by equities research analysts at Citigroup from $24.00 to $22.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 371.09% from the stock’s current price.

CADL has been the topic of several other reports. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Stephens restated an “overweight” rating and issued a $15.00 price objective on shares of Candel Therapeutics in a report on Monday, December 8th. Finally, Zacks Research raised Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday. One research 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 issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Candel Therapeutics Price Performance

CADL traded down $0.31 on Friday, reaching $4.67. The stock had a trading volume of 1,358,546 shares, compared to its average volume of 1,080,282. The company has a current ratio of 8.25, a quick ratio of 8.25 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $256.37 million, a price-to-earnings ratio of -8.19 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 firm has a 50-day moving average of $5.61 and a 200-day moving average of $5.44.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). As a group, sell-side analysts anticipate that Candel Therapeutics will post -1.47 EPS for the current year.

Insider Transactions at Candel Therapeutics

In other news, Director Paul B. Manning purchased 550,458 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the transaction, the director 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On Candel Therapeutics

A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in Candel Therapeutics by 128.2% in the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after buying an additional 4,439 shares during the period. Tower Research Capital LLC TRC boosted its position in Candel Therapeutics by 361.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock valued at $49,000 after acquiring an additional 7,527 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Candel Therapeutics during the 4th quarter worth about $51,000. Invesco Ltd. bought a new position in shares of Candel Therapeutics in the 1st quarter worth about $59,000. Finally, ProShare Advisors LLC acquired a new stake in Candel Therapeutics during the fourth quarter worth approximately $59,000. 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.