Candel Therapeutics (NASDAQ:CADL) Reaches New 52-Week High – What’s Next?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $11.36 and last traded at $10.30, with a volume of 2941846 shares changing hands. The stock had previously closed at $10.36.

Wall Street Analyst Weigh In

CADL has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Monday, April 20th. 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. Zacks Research raised Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Cantor Fitzgerald assumed coverage on Candel Therapeutics in a research note on Monday, April 20th. They issued an “overweight” rating on the stock. Finally, Citigroup lowered their target price on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a report on Friday, March 13th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Candel Therapeutics Trading Down 0.6%

The firm’s 50 day moving average price is $8.19 and its 200-day moving average price is $6.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 28.05 and a quick ratio of 28.05. The stock has a market cap of $754.68 million, a P/E ratio of -10.51 and a beta of -0.49.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.16. As a group, equities research analysts forecast that Candel Therapeutics, Inc. will post -0.97 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 4,439 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings 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 buying an additional 7,527 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Candel Therapeutics in the 4th quarter worth about $51,000. ProShare Advisors LLC purchased a new position in Candel Therapeutics in the 4th quarter worth about $59,000. Finally, Invesco Ltd. bought a new position in Candel Therapeutics during the 1st quarter valued at about $59,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

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.