Candel Therapeutics (NASDAQ:CADL) Stock Price Up 6.1% – Should You Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s share price was up 6.1% during trading on Monday . The stock traded as high as $6.92 and last traded at $6.8620. Approximately 206,896 shares were traded during trading, a decline of 84% from the average daily volume of 1,255,679 shares. The stock had previously closed at $6.47.

Analysts Set New Price Targets

Several equities analysts have commented on CADL shares. Zacks Research cut shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Monday, April 20th. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 target price on shares of Candel Therapeutics in a research report on Friday, March 13th. Cantor Fitzgerald assumed coverage on shares of Candel Therapeutics in a report on Monday, April 20th. They issued an “overweight” rating on the stock. Finally, Citigroup lowered their price target on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.00.

Candel Therapeutics Price Performance

The firm has a market capitalization of $533.04 million, a PE ratio of -10.27 and a beta of -0.59. The company has a debt-to-equity ratio of 0.91, a quick ratio of 13.49 and a current ratio of 13.49. The business’s 50 day moving average is $5.31 and its two-hundred day moving average is $5.44.

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

Insider Transactions at Candel Therapeutics

In related news, Director Paul B. Manning bought 550,458 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 2,763,527 shares of the company’s stock, valued at approximately $15,061,222.15. The trade was a 24.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CADL. BNP Paribas Financial Markets grew its position in Candel Therapeutics by 128.2% in the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock worth $40,000 after acquiring an additional 4,439 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Candel Therapeutics by 361.7% in the second 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 in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Candel Therapeutics in the fourth quarter worth $51,000. Invesco Ltd. purchased a new position in Candel Therapeutics in the first quarter worth $59,000. Finally, ProShare Advisors LLC purchased a new position in Candel Therapeutics in the fourth quarter worth $59,000. 13.93% of the stock is currently 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.