Candel Therapeutics (NASDAQ:CADL) Rating Lowered to “Strong Sell” at Zacks Research

Candel Therapeutics (NASDAQ:CADL) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday, Zacks reports.

CADL has been the subject of a number of other reports. UBS Group reiterated a “buy” rating on shares of Candel Therapeutics in a research note on Monday, August 17th. HC Wainwright restated a “buy” rating on shares of Candel Therapeutics in a research note on Friday, October 2nd. Wall Street Zen downgraded shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a report on Thursday. Finally, Stifel Nicolaus began coverage on shares of Candel Therapeutics in a research report on Monday, July 13th. They issued a “buy” rating and a $22.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.14.

Candel Therapeutics Stock Performance

NASDAQ:CADL opened at $8.91 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 16.09 and a current ratio of 16.09. The stock has a 50-day simple moving average of $11.43 and a two-hundred day simple moving average of $9.32. The firm has a market capitalization of $681.78 million, a PE ratio of -6.32 and a beta of -0.32. Candel Therapeutics has a 52-week low of $4.35 and a 52-week high of $14.00.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.28). Analysts forecast that Candel Therapeutics will post -1.29 EPS for the current year.

Insider Buying and Selling

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $12.00, for a total transaction of $84,000.00. Following the sale, the chief technology officer directly owned 76,865 shares of the company’s stock, valued at $922,380. This trade represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Candel Therapeutics

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Candel Therapeutics during the 2nd quarter valued at approximately $51,181,000. Halter Ferguson Financial Inc. grew its holdings in Candel Therapeutics by 20.9% during 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 purchased a new stake in Candel Therapeutics during the 2nd quarter valued at approximately $2,873,000. Wellington Management Group LLP bought a new stake in shares of Candel Therapeutics during the second quarter valued at approximately $2,119,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Candel Therapeutics during the second quarter valued at approximately $1,975,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing biological immunotherapies designed to stimulate and strengthen the body’s immune response against cancer. The company’s approach uses engineered viruses intended to selectively target tumors and activate broader antitumor immunity.

Candel’s pipeline includes CAN-3110, an investigational oncolytic immunotherapy being developed for high-grade glioma, including recurrent glioblastoma. The company is also developing CAN-2409, a non-replicating adenovirus-based therapy designed to work with a prodrug to trigger localized cancer-cell destruction and immune activation.