Candel Therapeutics (NASDAQ:CADL) Shares Gap Up – Still a Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s share price gapped up prior to trading on Monday. The stock had previously closed at $8.03, but opened at $8.44. Candel Therapeutics shares last traded at $7.9750, with a volume of 40,184 shares.

Analysts Set New Price Targets

CADL has been the topic of several research analyst reports. Jefferies Financial Group assumed coverage on shares of Candel Therapeutics in a research report on Thursday, October 22nd. They set a “buy” rating and a $25.00 price objective on the stock. Bank of America raised Candel Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $12.00 to $18.00 in a research report on Monday, September 21st. Zacks Research cut Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. HC Wainwright reiterated a “buy” rating on shares of Candel Therapeutics in a report on Friday, October 2nd. Finally, UBS Group reissued a “buy” rating on shares of Candel Therapeutics in a research report on Monday, August 17th. Nine analysts have rated the stock with a Buy rating and two have 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 target price of $21.43.

Candel Therapeutics Stock Up 5.9%

The stock’s 50-day moving average is $10.93 and its 200 day moving average is $8.23. The stock has a market capitalization of $631.28 million, a PE ratio of -5.85 and a beta of -0.32.

Candel Therapeutics (NASDAQ:CADL) last released its earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). As a group, equities research analysts forecast that Candel Therapeutics, Inc. will post -1.29 EPS for the current year.

Insider Buying and Selling at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $12.00, for a total value of $84,000.00. Following the transaction, the chief technology officer directly owned 76,865 shares of the company’s stock, valued at approximately $922,380. This represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 14.30% of the company’s stock.

Institutional Trading of Candel Therapeutics

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Candel Therapeutics in the 2nd quarter worth about $51,181,000. Halter Ferguson Financial Inc. grew its stake in shares of Candel Therapeutics by 20.9% in the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock valued at $4,430,000 after buying an additional 155,996 shares in the last quarter. Bank of America Corp DE acquired a new position in Candel Therapeutics in the second quarter worth approximately $2,873,000. Wellington Management Group LLP acquired a new position in Candel Therapeutics in the second quarter worth approximately $2,119,000. Finally, Bank of New York Mellon Corp acquired a new position in Candel Therapeutics in the second quarter worth approximately $1,975,000. Institutional investors and hedge funds own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc is a clinical-stage biopharmaceutical company developing biological immunotherapies designed to stimulate the immune system to recognize and attack cancer. The company’s approach uses engineered viral therapies intended to promote immunogenic cell death and generate broader, potentially systemic antitumor immune responses.

Candel’s pipeline includes CAN-3110, an investigational oncolytic immunotherapy based on a genetically engineered herpes simplex virus type 1.