Stephens Reaffirms Overweight Rating for Candel Therapeutics (NASDAQ:CADL)

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “overweight” rating restated by Stephens in a research note issued on Monday,Benzinga reports. They presently have a $15.00 price objective on the stock. Stephens’ price objective would indicate a potential upside of 181.43% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $23.00 target price on shares of Candel Therapeutics in a report on Monday, September 29th. Bank of America cut shares of Candel Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $13.00 to $7.00 in a research note on Wednesday, September 3rd. Lifesci Capital initiated coverage on shares of Candel Therapeutics in a report on Tuesday, October 21st. They issued an “outperform” rating and a $16.00 price objective for the company. Citigroup lowered their target price on Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Finally, Wall Street Zen lowered Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Candel Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

Candel Therapeutics Price Performance

Shares of CADL stock opened at $5.33 on Monday. The stock has a 50 day moving average price of $5.21 and a 200 day moving average price of $5.49. Candel Therapeutics has a 52-week low of $4.25 and a 52-week high of $14.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.25 and a current ratio of 8.25. The firm has a market capitalization of $292.62 million, a P/E ratio of -9.35 and a beta of -0.92.

Candel Therapeutics (NASDAQ:CADL) last released its earnings results on Thursday, November 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). As a group, sell-side analysts predict that Candel Therapeutics will post -1.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CADL. Acorn Capital Advisors LLC raised its position in Candel Therapeutics by 19.9% in the second quarter. Acorn Capital Advisors LLC now owns 2,580,517 shares of the company’s stock worth $13,057,000 after acquiring an additional 428,265 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Candel Therapeutics by 12.3% during the third quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock worth $10,236,000 after buying an additional 219,563 shares in the last quarter. Geode Capital Management LLC grew its position in Candel Therapeutics by 31.5% during the second quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock worth $4,575,000 after buying an additional 216,509 shares during the period. Halter Ferguson Financial Inc. increased its holdings in Candel Therapeutics by 12.0% in 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 in the last quarter. Finally, Tanager Wealth Management LLP purchased a new stake in shares of Candel Therapeutics in the second quarter valued at about $995,000. Institutional investors and hedge funds own 13.93% of the company’s stock.

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.