Candel Therapeutics (NASDAQ:CADL) Rating Lowered to “Sell” at Wall Street Zen

Candel Therapeutics (NASDAQ:CADL) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other research firms have also weighed in on CADL. Citigroup dropped their price target on Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Candel Therapeutics in a research report on Monday, September 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Wednesday, October 8th. Bank of America cut shares of Candel Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $13.00 to $7.00 in a report on Wednesday, September 3rd. Finally, Stephens upgraded shares of Candel Therapeutics to a “strong-buy” rating in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

Candel Therapeutics Trading Up 0.7%

Shares of CADL opened at $4.64 on Friday. Candel Therapeutics has a 1-year low of $3.79 and a 1-year high of $14.60. The company has a current ratio of 8.25, a quick ratio of 8.25 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $5.32 and its 200-day moving average price is $5.54. The firm has a market capitalization of $254.74 million, a price-to-earnings ratio of -8.14 and a beta of -0.94.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Sell-side analysts anticipate that Candel Therapeutics will post -1.47 EPS for the current year.

Institutional Investors Weigh In On Candel Therapeutics

A number of large investors have recently made changes to their positions in the company. Halter Ferguson Financial Inc. increased its holdings in Candel Therapeutics by 12.0% during the second quarter. Halter Ferguson Financial Inc. now owns 776,516 shares of the company’s stock valued at $3,929,000 after buying an additional 83,363 shares during the last quarter. Acorn Capital Advisors LLC grew its position in shares of Candel Therapeutics by 11.0% during the 1st quarter. Acorn Capital Advisors LLC now owns 2,152,252 shares of the company’s stock valued at $12,160,000 after acquiring an additional 212,608 shares during the period. Nuveen LLC purchased a new stake in shares of Candel Therapeutics in the 1st quarter worth $442,000. Tanager Wealth Management LLP bought a new position in Candel Therapeutics in the 2nd quarter worth $995,000. Finally, Janney Montgomery Scott LLC lifted its position in Candel Therapeutics by 29.4% during the second quarter. Janney Montgomery Scott LLC now owns 27,290 shares of the company’s stock valued at $138,000 after purchasing an additional 6,200 shares in the last quarter. 13.93% of the stock is currently owned by institutional investors.

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.