Wall Street Zen Downgrades Candel Therapeutics (NASDAQ:CADL) to Sell

Candel Therapeutics (NASDAQ:CADL) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Several other analysts have also recently commented on the company. Bank of America lifted their price target on Candel Therapeutics from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Friday, July 17th. Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Stifel Nicolaus initiated coverage on shares of Candel Therapeutics in a research report on Monday, July 13th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $23.00 target price on shares of Candel Therapeutics in a report on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Candel Therapeutics Stock Performance

Shares of CADL opened at $12.16 on Friday. Candel Therapeutics has a 1 year low of $4.35 and a 1 year high of $12.49. The company’s 50 day simple moving average is $9.75 and its 200 day simple moving average is $7.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 16.09 and a current ratio of 16.09. The company has a market capitalization of $930.48 million, a price-to-earnings ratio of -8.62 and a beta of -0.51.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). On average, sell-side analysts predict that Candel Therapeutics will post -1.03 EPS for the current year.

Insiders Place Their Bets

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 7,000 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.02, for a total transaction of $70,140.00. Following the completion of the sale, the chief technology officer directly owned 83,865 shares in the company, valued at $840,327.30. This represents a 7.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Francesca Barone sold 23,447 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.06, for a total value of $235,876.82. Following the sale, the insider owned 77,362 shares of the company’s stock, valued at $778,261.72. This represents a 23.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 14.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Candel Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CADL. Bank of America Corp DE acquired a new position in shares of Candel Therapeutics in the 2nd quarter valued at about $2,873,000. Legal & General Group Plc acquired a new stake in Candel Therapeutics during the 2nd quarter worth approximately $63,000. The Manufacturers Life Insurance Company purchased a new position in Candel Therapeutics in the second quarter valued at approximately $175,000. BlackRock Inc. purchased a new position in Candel Therapeutics in the second quarter valued at approximately $51,181,000. Finally, Deutsche Bank AG acquired a new position in Candel Therapeutics during the second quarter valued at approximately $648,000. 13.93% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Candel Therapeutics

Here are the key news stories impacting Candel Therapeutics this week:

• Positive Sentiment: HC Wainwright raised its price target for Candel Therapeutics to $12.00, providing a more favorable valuation signal. However, the new target is roughly in line with the stock’s recent trading level, suggesting limited implied upside from that estimate. Candel Therapeutics Price Target Raised to $12.00
• Neutral Sentiment: An analyst forecast for Candel’s fiscal 2028 earnings was reported, giving investors a longer-term reference point, although the article does not indicate a material change to the company’s near-term valuation. What is HC Wainwright’s Forecast for CADL FY2028 Earnings?
• Negative Sentiment: HC Wainwright adopted a pessimistic outlook for Candel’s third-quarter earnings, adding pressure to expectations for the company’s next results. HC Wainwright Has Pessimistic Outlook of CADL Q3 Earnings
• Negative Sentiment: An analyst reduced Candel’s third-quarter EPS estimate, signaling expectations for a wider loss or weaker-than-previously-forecast results. Q3 EPS Estimate for Candel Therapeutics Decreased by Analyst
• Negative Sentiment: Candel shares previously fell after disappointing quarterly earnings. The company reported a quarterly loss of $0.52 per share, worse than the $0.24 analyst consensus, highlighting continued earnings risk. Candel Therapeutics Stock Price Down 4.6% on Disappointing Earnings
• Negative Sentiment: Wall Street Zen downgraded Candel Therapeutics to Sell, reinforcing the cautious view surrounding the company’s profitability and earnings outlook. Wall Street Zen Downgrades Candel Therapeutics to Sell

Candel Therapeutics Company Profile

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.