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

Candel Therapeutics, Inc. (NASDAQ:CADL) has earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.00.

CADL has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a report on Wednesday, January 21st. Citigroup lowered their price target on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Zacks Research downgraded Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $25.00 price objective on shares of Candel Therapeutics in a report on Friday, March 13th.

Insiders Place Their Bets

In other Candel Therapeutics news, Director Paul B. Manning acquired 550,458 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average price of $5.45 per share, with a total value 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. The trade was a 24.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

A number of hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of Candel Therapeutics by 128.2% during the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after acquiring an additional 4,439 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Candel Therapeutics by 361.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock valued at $49,000 after buying an additional 7,527 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Candel Therapeutics during the 4th quarter worth about $51,000. Invesco Ltd. acquired a new position in shares of Candel Therapeutics during the 1st quarter worth about $59,000. Finally, ProShare Advisors LLC acquired a new position in shares of Candel Therapeutics during the 4th quarter worth about $59,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Stock Up 0.2%

CADL opened at $5.16 on Friday. The company has a fifty day moving average of $5.13 and a two-hundred day moving average of $5.38. The stock has a market capitalization of $377.97 million, a price-to-earnings ratio of -7.27 and a beta of -0.81. Candel Therapeutics has a fifty-two week low of $4.34 and a fifty-two week high of $7.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 13.49 and a current ratio of 13.49.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.30). On average, research analysts expect that Candel Therapeutics will post -1.47 earnings per share for the current year.

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.