Candel Therapeutics (NASDAQ:CADL) Price Target Cut to $13.00 by Analysts at Canaccord Genuity Group

Candel Therapeutics (NASDAQ:CADL) had its price objective cut by analysts at Canaccord Genuity Group from $25.00 to $13.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target would suggest a potential upside of 54.95% from the company’s current price.

A number of other research firms have also commented on CADL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Thursday, October 15th. HC Wainwright restated a “buy” rating on shares of Candel Therapeutics in a research report on Friday, October 2nd. UBS Group restated a “buy” rating on shares of Candel Therapeutics in a research report on Monday, August 17th. Stifel Nicolaus reduced their price objective on shares of Candel Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Zacks Research cut shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Candel Therapeutics Stock Performance

NASDAQ CADL opened at $8.39 on Friday. The company has a market capitalization of $642.00 million, a price-to-earnings ratio of -5.95 and a beta of -0.27. The company has a quick ratio of 16.09, a current ratio of 16.09 and a debt-to-equity ratio of 0.38. Candel Therapeutics has a twelve month low of $4.35 and a twelve month high of $14.00. The stock has a fifty day simple moving average of $9.89 and a 200 day simple moving average of $8.39.

Candel Therapeutics (NASDAQ:CADL) last announced its earnings results on Friday, November 13th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. Sell-side analysts expect that Candel Therapeutics will post -1.29 EPS for the current year.

Insider Transactions at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $12.00, for a total value of $84,000.00. Following the completion of the sale, the chief technology officer owned 76,865 shares in the company, valued at $922,380. This represents a 8.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 14.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Candel Therapeutics in the 3rd quarter worth about $41,000. Legal & General Group Plc purchased a new stake in Candel Therapeutics in the 2nd quarter valued at about $63,000. Renaissance Technologies LLC bought a new position in shares of Candel Therapeutics during the 1st quarter worth approximately $63,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Candel Therapeutics by 19.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,962 shares of the company’s stock worth $152,000 after buying an additional 2,301 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Candel Therapeutics in the 2nd quarter worth approximately $175,000. 13.93% of the stock is owned by institutional investors.

Candel Therapeutics Company Profile

Candel Therapeutics is a clinical-stage biotechnology company developing viral immunotherapies designed to stimulate the immune system to fight cancer. Its approach uses engineered viruses to trigger immune responses against tumors. The company’s clinical-stage programs include CAN-2409, an adenovirus-based therapy being studied in several solid tumors, and CAN-3110, an oncolytic herpes simplex virus therapy being investigated for recurrent glioblastoma. Based in Needham, Massachusetts, Candel conducts clinical development of its therapies for cancer indications.