Candel Therapeutics, Inc. (NASDAQ:CADL) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $19.2857.

A number of research analysts recently weighed in on CADL shares. Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Wall Street Zen lowered Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday, July 17th. Bank of America boosted their price target on shares of Candel Therapeutics from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Finally, UBS Group reissued a “buy” rating on shares of Candel Therapeutics in a research report on Monday.

Insiders Place Their Bets

In other Candel Therapeutics news, insider Francesca Barone sold 23,447 shares of Candel Therapeutics stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.06, for a total transaction of $235,876.82. Following the completion of the sale, the insider directly owned 77,362 shares of the company’s stock, valued at $778,261.72. The trade was a 23.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of Candel Therapeutics stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $12.00, for a total value of $84,000.00. Following the sale, the chief technology officer directly owned 76,865 shares of the company’s stock, valued at $922,380. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 37,447 shares of company stock valued at $390,017. Insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CADL. BlackRock Inc. acquired a new position in Candel Therapeutics in the second quarter valued at approximately $51,181,000. Vanguard Group Inc. increased its stake in Candel Therapeutics by 12.3% in the third quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after purchasing an additional 219,563 shares during the last quarter. Geode Capital Management LLC raised its holdings in Candel Therapeutics by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 977,512 shares of the company’s stock worth $5,524,000 after purchasing an additional 49,315 shares in the last quarter. Halter Ferguson Financial Inc. raised its holdings in Candel Therapeutics by 20.9% during the first quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock worth $4,430,000 after purchasing an additional 155,996 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Candel Therapeutics by 15.0% during the 4th quarter. State Street Corp now owns 792,218 shares of the company’s stock worth $4,476,000 after buying an additional 103,452 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company’s stock.

Candel Therapeutics Stock Performance

Shares of Candel Therapeutics stock opened at $13.13 on Friday. The business has a 50-day moving average of $10.10 and a 200 day moving average of $7.63. Candel Therapeutics has a 12 month low of $4.35 and a 12 month high of $13.82. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -9.31 and a beta of -0.51. The company has a debt-to-equity ratio of 0.38, a current ratio of 16.09 and a quick ratio of 16.09.

Candel Therapeutics (NASDAQ:CADL) last released its earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.28). As a group, sell-side analysts forecast that Candel Therapeutics will post -1.29 earnings per share for the current year.

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.