Candel Therapeutics (NASDAQ:CADL) Shares Down 4.3% – What’s Next?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s stock price fell 4.3% during trading on Tuesday. The company traded as low as $10.80 and last traded at $10.7120. Approximately 200,078 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,480,229 shares. The stock had previously closed at $11.19.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wall Street Zen downgraded Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday, July 17th. Stifel Nicolaus began coverage on shares of Candel Therapeutics in a research note on Monday, July 13th. They set a “buy” rating and a $22.00 price target on the stock. UBS Group reaffirmed a “buy” rating on shares of Candel Therapeutics in a report on Monday, August 17th. Finally, Bank of America raised shares of Candel Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the company from $12.00 to $18.00 in a report on Monday, September 21st. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.14.

Candel Therapeutics Price Performance

The company has a 50-day moving average of $11.49 and a two-hundred day moving average of $8.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 16.09 and a quick ratio of 16.09. The stock has a market capitalization of $798.87 million, a PE ratio of -7.40 and a beta of -0.48.

Candel Therapeutics (NASDAQ:CADL) last released its earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). Sell-side analysts predict that Candel Therapeutics, Inc. will post -1.29 EPS for the current fiscal year.

Insider Activity

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $12.00, for a total transaction of $84,000.00. Following the completion of the sale, the chief technology officer owned 76,865 shares in the company, valued at approximately $922,380. The trade was a 8.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.30% of the company’s stock.

Institutional Trading of Candel Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC acquired a new stake in shares of Candel Therapeutics in the fourth quarter valued at about $59,000. Renaissance Technologies LLC acquired a new stake in shares of Candel Therapeutics during the 1st quarter valued at approximately $63,000. Legal & General Group Plc bought a new position in shares of Candel Therapeutics in the 2nd quarter worth about $63,000. Janney Montgomery Scott LLC boosted its stake in Candel Therapeutics by 12.6% in the first quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company’s stock valued at $149,000 after acquiring an additional 3,400 shares during the period. Finally, Krilogy Financial LLC grew its stake in Candel Therapeutics by 25.3% during the 1st quarter. Krilogy Financial LLC now owns 30,065 shares of the company’s stock worth $155,000 after buying an additional 6,065 shares during the last quarter. 13.93% of the stock is owned by hedge funds and other institutional investors.

About Candel Therapeutics

Candel Therapeutics, Inc is a clinical-stage biotechnology company developing multimodal biological immunotherapies designed to stimulate the immune system to recognize and attack cancer. The company focuses on engineered viruses administered directly into tumors, with the goal of creating a localized immune response that may also affect cancer cells elsewhere in the body.

Candel’s pipeline includes CAN-2409, an investigational, replication-defective adenovirus-based immunotherapy being studied in cancers including localized prostate cancer and non-small cell lung cancer.