Brokerages Set Candel Therapeutics, Inc. (NASDAQ:CADL) Target Price at $18.00

Candel Therapeutics, Inc. (NASDAQ:CADL) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.00.

A number of equities analysts recently weighed in on the company. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Cantor Fitzgerald assumed coverage on Candel Therapeutics in a research report on Monday, April 20th. They issued an “overweight” rating for the company. Wall Street Zen upgraded Candel Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price target on shares of Candel Therapeutics in a report on Friday, March 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Monday, April 20th.

Institutional Investors Weigh In On Candel Therapeutics

A number of institutional investors have recently bought and sold shares of CADL. Invesco Ltd. acquired a new stake in Candel Therapeutics during the 1st quarter worth about $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Candel Therapeutics by 37.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company’s stock worth $95,000 after acquiring an additional 4,583 shares during the period. Rhumbline Advisers boosted its position in Candel Therapeutics by 26.8% during the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock worth $188,000 after acquiring an additional 7,030 shares during the period. Geode Capital Management LLC raised its stake in shares of Candel Therapeutics by 31.5% during the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock worth $4,575,000 after purchasing an additional 216,509 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Candel Therapeutics by 36.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock worth $99,000 after purchasing an additional 5,270 shares in the last quarter. 13.93% of the stock is currently owned by institutional investors and hedge funds.

Candel Therapeutics Trading Down 0.6%

NASDAQ:CADL opened at $10.30 on Friday. The company has a quick ratio of 28.05, a current ratio of 28.05 and a debt-to-equity ratio of 0.34. Candel Therapeutics has a 1-year low of $4.35 and a 1-year high of $11.36. The firm has a market capitalization of $754.68 million, a price-to-earnings ratio of -10.51 and a beta of -0.49. The stock has a fifty day simple moving average of $8.19 and a 200 day simple moving average of $6.43.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.16. Sell-side analysts forecast that Candel Therapeutics will post -0.97 earnings per share for the current year.

About Candel Therapeutics

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.