Candel Therapeutics (NASDAQ:CADL) Price Target Raised to $12.00 at Bank of America

Candel Therapeutics (NASDAQ:CADL) had its price objective upped by Bank of America from $9.00 to $12.00 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

CADL has been the subject of several other reports. Cantor Fitzgerald started coverage on Candel Therapeutics in a research note on Monday, April 20th. They issued an “overweight” rating for the company. Stifel Nicolaus began coverage on Candel Therapeutics in a report on Monday, July 13th. They set a “buy” rating and a $22.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Candel Therapeutics in a research note on Thursday. Finally, Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Candel Therapeutics Price Performance

Shares of NASDAQ:CADL opened at $11.72 on Friday. The company has a quick ratio of 28.05, a current ratio of 28.05 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $858.72 million, a PE ratio of -8.31 and a beta of -0.51. The firm’s 50 day moving average price is $9.68 and its 200-day moving average price is $7.40. Candel Therapeutics has a twelve month low of $4.35 and a twelve month high of $11.95.

Candel Therapeutics (NASDAQ:CADL) last announced its earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.28). Equities research analysts expect that Candel Therapeutics will post -0.91 EPS for the current year.

Insider Buying and Selling at Candel Therapeutics

In other news, insider Francesca Barone sold 23,447 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.06, for a total value of $235,876.82. Following the transaction, the insider directly owned 77,362 shares in the company, valued at $778,261.72. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Seshu Tyagarajan sold 7,000 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.02, for a total value of $70,140.00. Following the completion of the transaction, the chief technology officer directly owned 83,865 shares of the company’s stock, valued at approximately $840,327.30. This trade represents a 7.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 14.30% of the company’s stock.

Institutional Trading of Candel Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new stake in shares of Candel Therapeutics during the second quarter valued at approximately $63,000. BNP Paribas Financial Markets grew its stake in 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 in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in Candel Therapeutics in the 4th quarter valued at $51,000. Tower Research Capital LLC TRC lifted its stake in Candel Therapeutics by 361.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after purchasing an additional 7,527 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in Candel Therapeutics in the 1st quarter worth $59,000. Institutional investors own 13.93% of the company’s stock.

Candel Therapeutics News Summary

Here are the key news stories impacting Candel Therapeutics this week:

• Positive Sentiment: HC Wainwright reaffirmed its Buy rating and $23 price target, implying substantial potential upside from recent trading levels. The firm’s outlook reflects expectations for future earnings growth and progress in Candel’s pipeline. HC Wainwright reaffirms Buy rating and price target
• Positive Sentiment: Management highlighted “meaningful execution” toward a biologics license application (BLA) submission in the fourth quarter. Candel is targeting its first commercial product in 2027, making regulatory progress a key catalyst for the stock. CADL rises as biotech targets 2027 commercial launch
• Neutral Sentiment: Bank of America raised its price target from $9 to $12 but maintained a Neutral rating. The revised target is close to the recent share price, suggesting the analyst sees limited near-term upside despite the higher valuation estimate. Bank of America raises CADL price target
• Negative Sentiment: Candel reported a second-quarter loss of $0.52 per share, substantially worse than the $0.27 consensus estimate. The earnings miss highlights continued cash-burn and execution risk for the clinical-stage biotechnology company. Candel second-quarter earnings release
• Negative Sentiment: HC Wainwright modestly reduced its FY2028 and FY2029 EPS estimates to $0.69 and $1.41, respectively. Although the firm retained its Buy rating and $23 target, the estimate cuts indicate slightly lower expectations for Candel’s long-term profitability.

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.