Candel Therapeutics (NASDAQ:CADL) Shares Up 7.8% – What’s Next?

Candel Therapeutics, Inc. (NASDAQ:CADL) was up 7.8% on Tuesday . The company traded as high as $11.09 and last traded at $11.1660. 738,155 shares were traded during trading, a decline of 53% from the average daily volume of 1,576,893 shares. The stock had previously closed at $10.36.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CADL shares. Wall Street Zen upgraded Candel Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Citigroup cut their target price on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a report on Monday, April 20th. Finally, Cantor Fitzgerald started coverage on shares of Candel Therapeutics in a research report on Monday, April 20th. They set an “overweight” rating on the stock. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Candel Therapeutics Stock Up 5.4%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 28.05 and a current ratio of 28.05. The business has a 50 day simple moving average of $8.11 and a 200-day simple moving average of $6.40. The firm has a market capitalization of $800.18 million, a price-to-earnings ratio of -11.20 and a beta of -0.49.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.16. On average, equities analysts expect that Candel Therapeutics, Inc. will post -0.97 EPS for the current year.

Institutional Trading of Candel Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC acquired a new position in Candel Therapeutics in the first quarter valued at approximately $845,000. Renaissance Technologies LLC acquired a new stake in Candel Therapeutics during the first quarter worth $63,000. AlphaCentric Advisors LLC purchased a new stake in Candel Therapeutics in the first quarter valued at $178,000. Bank of New York Mellon Corp lifted its stake in shares of Candel Therapeutics by 43.1% in the 1st quarter. Bank of New York Mellon Corp now owns 136,266 shares of the company’s stock valued at $668,000 after purchasing an additional 41,058 shares during the last quarter. Finally, Halter Ferguson Financial Inc. lifted its stake in shares of Candel Therapeutics by 20.9% in the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock valued at $4,430,000 after purchasing an additional 155,996 shares during the last quarter. Institutional investors and hedge funds 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.