Candel Therapeutics (NASDAQ:CADL) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Candel Therapeutics (NASDAQ:CADL) from a hold rating to a sell rating in a report released on Saturday morning.

Several other research firms have also commented on CADL. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Monday, April 20th. Stifel Nicolaus began coverage on shares of Candel Therapeutics in a report on Monday, July 13th. They set a “buy” rating and a $22.00 target price on the stock. Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Cantor Fitzgerald assumed coverage on shares of Candel Therapeutics in a research note on Monday, April 20th. They issued an “overweight” rating for the company. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Candel Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $18.57.

Candel Therapeutics Price Performance

CADL stock opened at $10.18 on Friday. The business’s fifty day moving average price is $8.91 and its 200 day moving average price is $6.78. Candel Therapeutics has a 12-month low of $4.35 and a 12-month high of $11.36. 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 company has a market capitalization of $745.89 million, a PE ratio of -10.39 and a beta of -0.52.

Candel Therapeutics (NASDAQ:CADL) last announced its earnings results on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.16. On average, sell-side analysts anticipate that Candel Therapeutics will post -0.91 EPS for the current year.

Insider Transactions at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.02, for a total transaction of $70,140.00. Following the sale, the chief technology officer owned 83,865 shares of the company’s stock, valued at approximately $840,327.30. This trade represents a 7.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Francesca Barone sold 23,447 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $10.06, for a total value of $235,876.82. Following the sale, the insider owned 77,362 shares of the company’s stock, valued at approximately $778,261.72. The trade was a 23.26% decrease in their position. The SEC filing for this sale provides additional information. 14.30% of the stock is owned by insiders.

Institutional Trading of Candel Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CADL. Invesco Ltd. acquired a new position in shares of Candel Therapeutics in the 1st quarter valued at $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Candel Therapeutics by 37.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company’s stock valued at $95,000 after purchasing an additional 4,583 shares during the period. Rhumbline Advisers boosted its holdings in shares of Candel Therapeutics by 26.8% in the first quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock valued at $188,000 after acquiring an additional 7,030 shares during the period. Geode Capital Management LLC grew its position in 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 during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Candel Therapeutics by 36.9% during the second quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock worth $99,000 after buying an additional 5,270 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company’s stock.

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.