Candel Therapeutics (NASDAQ:CADL) Coverage Initiated at Lifesci Capital

Equities research analysts at Lifesci Capital initiated coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a note issued to investors on Tuesday, MarketBeat reports. The firm set an “outperform” rating and a $16.00 price target on the stock. Lifesci Capital’s target price would suggest a potential upside of 204.18% from the stock’s current price.

Several other analysts have also recently commented on CADL. Brookline Capital Management upgraded shares of Candel Therapeutics to a “strong-buy” rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded shares of Candel Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price target on shares of Candel Therapeutics in a research report on Monday, September 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Wednesday, October 8th. Finally, Bank of America lowered Candel Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $13.00 to $7.00 in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.20.

Candel Therapeutics Stock Performance

Shares of CADL stock opened at $5.26 on Tuesday. The business has a fifty day moving average of $5.50 and a 200 day moving average of $5.48. Candel Therapeutics has a 1 year low of $3.79 and a 1 year high of $14.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.04 and a quick ratio of 7.04. The firm has a market capitalization of $288.77 million, a price-to-earnings ratio of -7.62 and a beta of -0.94.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. As a group, research analysts expect that Candel Therapeutics will post -1.47 earnings per share for the current year.

Hedge Funds Weigh In On Candel Therapeutics

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in Candel Therapeutics by 361.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after acquiring an additional 7,527 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in shares of Candel Therapeutics in the 2nd quarter valued at approximately $279,000. Acorn Capital Advisors LLC grew its position in Candel Therapeutics by 19.9% in the second quarter. Acorn Capital Advisors LLC now owns 2,580,517 shares of the company’s stock worth $13,057,000 after acquiring an additional 428,265 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Candel Therapeutics by 28.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,520 shares of the company’s stock valued at $109,000 after purchasing an additional 4,772 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Candel Therapeutics in the 2nd quarter valued at $70,000. Institutional investors and hedge funds own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.