Candel Therapeutics (NASDAQ:CADL) Given New $18.00 Price Target at HC Wainwright

Candel Therapeutics (NASDAQ:CADL) had its target price reduced by HC Wainwright from $23.00 to $18.00 in a research report report published on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

CADL has been the topic of several other research reports. Bank of America raised Candel Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $18.00 in a research report on Monday, September 21st. Canaccord Genuity Group reduced their price objective on Candel Therapeutics from $25.00 to $13.00 and set a “buy” rating for the company in a research note on Friday. Jefferies Financial Group assumed coverage on Candel Therapeutics in a research report on Thursday, October 22nd. They set a “buy” rating and a $25.00 target price for the company. Wall Street Zen lowered Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Finally, Stifel Nicolaus lowered their target price on Candel Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday. Nine analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.57.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL opened at $6.20 on Friday. The company has a market capitalization of $474.42 million, a PE ratio of -4.19 and a beta of -0.27. The company has a quick ratio of 16.09, a current ratio of 16.09 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $9.75 and its 200-day moving average price is $8.39. Candel Therapeutics has a twelve month low of $4.35 and a twelve month high of $14.00.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings results on Friday, November 13th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. On average, equities analysts anticipate that Candel Therapeutics will post -1.29 EPS for the current year.

Insider Buying and Selling at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $12.00, for a total transaction of $84,000.00. Following the completion of the sale, the chief technology officer owned 76,865 shares in the company, valued at $922,380. This trade represents a 8.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Candel Therapeutics

Several institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Candel Therapeutics during the third quarter valued at $41,000. Renaissance Technologies LLC purchased a new stake in Candel Therapeutics in the first quarter worth $63,000. Legal & General Group Plc purchased a new stake in Candel Therapeutics in the second quarter worth $63,000. Janney Montgomery Scott LLC increased its position in Candel Therapeutics by 12.6% in the first quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company’s stock worth $149,000 after buying an additional 3,400 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Candel Therapeutics by 19.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,962 shares of the company’s stock valued at $152,000 after buying an additional 2,301 shares during the period. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics News Summary

These are some of the CADL news items that stood out recently:

• Positive Sentiment: Candel reported a third-quarter loss of $0.28 per share, narrower than analysts’ expected loss of $0.34. Third-quarter results and corporate update
• Positive Sentiment: HC Wainwright, Canaccord Genuity and Stifel lowered their price targets but maintained Buy ratings, signaling continued analyst optimism despite the revised outlook.
• Negative Sentiment: Reports also cited a wider operating loss, adding to concerns as investors reassess the company’s timeline and financial outlook. Operating loss and FDA discussion

About Candel Therapeutics

Candel Therapeutics is a clinical-stage biotechnology company developing viral immunotherapies designed to stimulate the immune system to fight cancer. Its approach uses engineered viruses to trigger immune responses against tumors. The company’s clinical-stage programs include CAN-2409, an adenovirus-based therapy being studied in several solid tumors, and CAN-3110, an oncolytic herpes simplex virus therapy being investigated for recurrent glioblastoma. Based in Needham, Massachusetts, Candel conducts clinical development of its therapies for cancer indications.