Candel Therapeutics, Inc. (NASDAQ:CADL) Given Average Recommendation of “Moderate Buy” by Brokerages

Candel Therapeutics, Inc. (NASDAQ:CADL) has been given an average rating of “Moderate Buy” by the ten ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $18.5714.

A number of brokerages have recently commented on CADL. Wall Street Zen downgraded Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Cantor Fitzgerald started coverage on Candel Therapeutics in a research report on Monday, April 20th. They issued an “overweight” rating for the company. Stifel Nicolaus assumed coverage on Candel Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $22.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday. Finally, Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th.

Candel Therapeutics Price Performance

Shares of Candel Therapeutics stock opened at $9.57 on Tuesday. The stock has a market capitalization of $701.19 million, a P/E ratio of -9.77 and a beta of -0.52. The business has a 50 day simple moving average of $8.93 and a two-hundred day simple moving average of $6.82. Candel Therapeutics has a 12 month low of $4.35 and a 12 month high of $11.36. The company has a debt-to-equity ratio of 0.34, a current ratio of 28.05 and a quick ratio of 28.05.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings results 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. As a group, analysts predict that Candel Therapeutics will post -0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other Candel Therapeutics news, insider Francesca Barone sold 23,447 shares of the business’s stock in a transaction 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 completion of the transaction, the insider directly owned 77,362 shares in the company, valued at approximately $778,261.72. The trade was a 23.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $10.02, for a total value 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. The trade was a 7.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On Candel Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CADL. BNP Paribas Financial Markets boosted its position in Candel Therapeutics by 128.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock worth $40,000 after acquiring an additional 4,439 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in Candel Therapeutics in the fourth quarter worth about $51,000. Tower Research Capital LLC TRC lifted its stake in Candel Therapeutics by 361.7% during the second 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 last quarter. Invesco Ltd. acquired a new position in shares of Candel Therapeutics in the 1st quarter valued at $59,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Candel Therapeutics during the fourth quarter valued at approximately $59,000. 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.