Candel Therapeutics (NASDAQ:CADL) Stock Price Up 6.7% – Should You Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL) shares rose 6.7% on Wednesday . The stock traded as high as $9.03 and last traded at $8.9850. Approximately 1,426,340 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 1,466,508 shares. The stock had previously closed at $8.42.

Analyst Ratings Changes

CADL has been the topic of several analyst reports. Wall Street Zen raised shares of Candel Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Citigroup lowered their target price 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. 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, Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a report on Monday, April 20th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Candel Therapeutics Trading Up 5.3%

The business’s fifty day simple moving average is $6.81 and its 200 day simple moving average is $5.92. The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34. The stock has a market cap of $679.21 million, a P/E ratio of -9.46 and a beta of -0.49.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.16. As a group, analysts expect that Candel Therapeutics, Inc. will post -0.97 EPS for the current year.

Institutional Investors Weigh In On Candel Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CADL. Invesco Ltd. acquired a new position in Candel Therapeutics during the 1st quarter valued at about $59,000. Tower Research Capital LLC TRC lifted its position in Candel Therapeutics by 361.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock valued at $49,000 after purchasing an additional 7,527 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Candel Therapeutics by 128.2% during the third 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. Bank of New York Mellon Corp raised its stake in shares of Candel Therapeutics by 43.1% during the first quarter. Bank of New York Mellon Corp now owns 136,266 shares of the company’s stock worth $668,000 after buying an additional 41,058 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Candel Therapeutics during the first quarter worth approximately $845,000. 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.