Candel Therapeutics (NASDAQ:CADL) Shares Up 5.6% – What’s Next?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s stock price traded up 5.6% on Tuesday . The stock traded as high as $13.57 and last traded at $13.5810. Approximately 122,371 shares were traded during trading, a decline of 92% from the average session volume of 1,523,547 shares. The stock had previously closed at $12.86.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. UBS Group reiterated a “buy” rating on shares of Candel Therapeutics in a report on Monday, August 17th. Bank of America raised their target price 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. Stifel Nicolaus assumed coverage on shares of Candel Therapeutics in a research report on Monday, July 13th. They issued a “buy” rating and a $22.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a report on Friday, July 17th. Finally, Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Candel Therapeutics Stock Up 6.2%

The firm has a 50-day moving average of $10.19 and a two-hundred day moving average of $7.70. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -9.66 and a beta of -0.51. 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 (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). As a group, sell-side analysts anticipate that Candel Therapeutics, Inc. will post -1.29 earnings per share for the current year.

Insider Activity at Candel Therapeutics

In related news, insider Francesca Barone sold 23,447 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $10.06, for a total value of $235,876.82. Following the completion of the sale, the insider directly owned 77,362 shares in the company, valued at approximately $778,261.72. This represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $12.00, for a total transaction of $84,000.00. Following the transaction, the chief technology officer directly owned 76,865 shares in the company, valued at $922,380. The trade was a 8.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,447 shares of company stock valued at $390,017 over the last three months. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its position in Candel Therapeutics by 177.0% during the second quarter. California State Teachers Retirement System now owns 6,571 shares of the company’s stock worth $638,000 after purchasing an additional 4,199 shares during the period. AXQ Capital LP raised its position in shares of Candel Therapeutics by 50.8% in the second quarter. AXQ Capital LP now owns 31,460 shares of the company’s stock valued at $324,000 after purchasing an additional 10,596 shares during the period. Cookson Peirce & Co. Inc. acquired a new stake in shares of Candel Therapeutics in the second quarter worth $618,000. Wellington Management Group LLP bought a new stake in shares of Candel Therapeutics during the 2nd quarter worth $2,119,000. Finally, Bank of America Corp DE bought a new stake in shares of Candel Therapeutics during the 2nd quarter worth $2,873,000. 13.93% of the stock is owned by institutional investors.

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.