Candel Therapeutics (NASDAQ:CADL) Rating Lowered to Strong Sell at Zacks Research

Candel Therapeutics (NASDAQ:CADL) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages also recently weighed in on CADL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Wednesday, October 8th. Citigroup dropped their price target on Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of Candel Therapeutics in a research report on Monday, September 29th. Lifesci Capital started coverage on Candel Therapeutics in a research note on Tuesday, October 21st. They set an “outperform” rating and a $16.00 price objective for the company. Finally, Stephens reaffirmed an “overweight” rating and issued a $15.00 target price on shares of Candel Therapeutics in a research report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Candel Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $18.33.

Candel Therapeutics Trading Down 7.5%

NASDAQ:CADL opened at $5.92 on Monday. The company has a market cap of $325.01 million, a PE ratio of -10.39 and a beta of -0.93. The business’s 50 day moving average is $5.42 and its two-hundred day moving average is $5.62. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 0.01. Candel Therapeutics has a 52 week low of $4.25 and a 52 week high of $13.68.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04). On average, analysts predict that Candel Therapeutics will post -1.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. bought a new stake in Candel Therapeutics during the first quarter worth approximately $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $95,000 after purchasing an additional 4,583 shares in the last quarter. Rhumbline Advisers increased its position in shares of Candel Therapeutics by 26.8% during the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock valued at $188,000 after purchasing an additional 7,030 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Candel Therapeutics by 29.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 27,290 shares of the company’s stock worth $138,000 after buying an additional 6,200 shares in the last quarter. Finally, Tanager Wealth Management LLP acquired a new stake in shares of Candel Therapeutics in the second quarter valued at $995,000. 13.93% of the stock is currently owned by institutional investors.

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.