Candel Therapeutics (NASDAQ:CADL) Sees Large Volume Increase – Should You Buy?

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) saw an uptick in trading volume on Monday . 948,903 shares traded hands during trading, a decline of 17% from the previous session’s volume of 1,144,244 shares.The stock last traded at $7.2690 and had previously closed at $6.37.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CADL. Zacks Research cut shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 price objective on shares of Candel Therapeutics in a research report on Friday, March 13th. Cantor Fitzgerald began coverage on shares of Candel Therapeutics in a research report on Monday. They set an “overweight” rating on the stock. Citigroup cut their price objective on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.00.

Candel Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.91, a quick ratio of 13.49 and a current ratio of 13.49. The stock has a market cap of $512.73 million, a PE ratio of -9.86 and a beta of -0.81. The company’s 50 day simple moving average is $5.20 and its 200 day simple moving average is $5.41.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.30). Analysts expect that Candel Therapeutics, Inc. will post -0.9 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Paul B. Manning acquired 550,458 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was purchased at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the purchase, the director owned 2,763,527 shares in the company, valued at approximately $15,061,222.15. This represents a 24.87% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Large investors have recently modified their holdings of the stock. Invesco Ltd. increased its stake in shares of Candel Therapeutics by 29.0% during the 4th quarter. Invesco Ltd. now owns 15,039 shares of the company’s stock worth $85,000 after purchasing an additional 3,380 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of 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 purchasing an additional 4,439 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Candel Therapeutics by 361.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after purchasing an additional 7,527 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Candel Therapeutics during the 2nd quarter worth approximately $70,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Candel Therapeutics by 36.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock worth $99,000 after purchasing an additional 5,270 shares during the last quarter. Hedge funds and other institutional investors 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.