Candel Therapeutics (NASDAQ:CADL) Reaches New 12-Month High – Still a Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $8.70 and last traded at $9.00, with a volume of 200243 shares traded. The stock had previously closed at $8.35.

Analysts Set New Price Targets

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

Candel Therapeutics Stock Up 8.9%

The company’s fifty day moving average price is $5.47 and its 200-day moving average price is $5.48. The stock has a market cap of $666.32 million, a P/E ratio of -12.82 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.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.30). Equities analysts forecast that Candel Therapeutics, Inc. will post -0.94 EPS for the current year.

Insider Buying and Selling

In other Candel Therapeutics news, Director Paul B. Manning bought 550,458 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were acquired at an average price of $5.45 per share, with a total value 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets grew 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 buying an additional 4,439 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Candel Therapeutics in the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC grew its position in shares of 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 buying an additional 7,527 shares during the last quarter. Invesco Ltd. purchased a new position in shares of Candel Therapeutics in the 1st quarter worth approximately $59,000. Finally, ProShare Advisors LLC purchased a new position in shares of Candel Therapeutics in the 4th quarter worth approximately $59,000. Hedge funds and other 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.