Candel Therapeutics (NASDAQ:CADL) Trading Down 7% – What’s Next?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s stock price fell 7% during mid-day trading on Thursday . The company traded as low as $11.38 and last traded at $11.32. Approximately 1,010,048 shares traded hands during trading, a decline of 32% from the average session volume of 1,490,628 shares. The stock had previously closed at $12.17.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CADL. UBS Group reiterated a “buy” rating on shares of Candel Therapeutics in a report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday, July 17th. Bank of America upped their target price on Candel Therapeutics from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price target on shares of Candel Therapeutics in a research note on Thursday, August 13th. Finally, Stifel Nicolaus began coverage on shares of Candel Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $22.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Candel Therapeutics Price Performance

The firm has a market cap of $807.28 million, a P/E ratio of -7.48 and a beta of -0.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 16.09 and a quick ratio of 16.09. The firm’s 50 day moving average is $11.16 and its 200 day moving average is $8.37.

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

Insider Buying and Selling

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 7,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $12.00, for a total value of $84,000.00. Following the sale, the chief technology officer directly owned 76,865 shares of the company’s stock, valued at approximately $922,380. The trade was 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. Also, insider Francesca Barone sold 23,447 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $10.06, for a total value of $235,876.82. Following the completion of the sale, the insider directly owned 77,362 shares in the company, valued at approximately $778,261.72. This represents a 23.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 37,447 shares of company stock valued at $390,017. 14.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Candel Therapeutics

A number of hedge funds have recently bought and sold shares of CADL. Invesco Ltd. bought a new stake in Candel Therapeutics during the 1st quarter valued at about $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Candel Therapeutics by 37.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company’s stock worth $95,000 after buying an additional 4,583 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Candel Therapeutics by 26.8% in the first quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock worth $188,000 after buying an additional 7,030 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Candel Therapeutics by 31.5% during the second quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock valued at $4,575,000 after buying an additional 216,509 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Candel Therapeutics by 36.9% during the second quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock valued at $99,000 after buying an additional 5,270 shares during the last quarter. 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.