Candel Therapeutics (NASDAQ:CADL) Stock Price Up 6.1% – Should You Buy?

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) rose 6.1% during mid-day trading on Monday . The company traded as high as $6.92 and last traded at $6.8620. Approximately 206,896 shares were traded during trading, a decline of 84% from the average daily volume of 1,255,679 shares. The stock had previously closed at $6.47.

Analyst Ratings Changes

CADL has been the topic of a number of research analyst reports. Citigroup cut their price objective on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 price objective on shares of Candel Therapeutics in a research report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Monday, April 20th. Cantor Fitzgerald initiated coverage on shares of Candel Therapeutics in a research report on Monday, April 20th. They set an “overweight” rating on the stock. Finally, Zacks Research cut shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Candel Therapeutics has an average rating of “Hold” and a consensus target price of $18.00.

Candel Therapeutics Price Performance

The firm has a market cap of $533.04 million, a price-to-earnings ratio of -10.27 and a beta of -0.59. The company has a debt-to-equity ratio of 0.91, a quick ratio of 13.49 and a current ratio of 13.49. The business has a 50 day simple moving average of $5.31 and a 200-day simple moving average of $5.44.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). Equities research analysts expect that Candel Therapeutics, Inc. will post -0.94 earnings per share for the current year.

Insider Transactions at Candel Therapeutics

In related news, Director Paul B. Manning purchased 550,458 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was acquired at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the purchase, the director owned 2,763,527 shares of the company’s stock, valued at approximately $15,061,222.15. This trade represents a 24.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On Candel Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CADL. Vanguard Group Inc. lifted its position in shares of Candel Therapeutics by 12.3% during the 3rd 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 lifted its position in shares of Candel Therapeutics by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 977,512 shares of the company’s stock worth $5,524,000 after buying an additional 49,315 shares in the last quarter. Halter Ferguson Financial Inc. lifted its position in shares of Candel Therapeutics by 20.9% during the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock worth $4,430,000 after buying an additional 155,996 shares in the last quarter. State Street Corp lifted its position in shares of Candel Therapeutics by 15.0% during the 4th quarter. State Street Corp now owns 792,218 shares of the company’s stock worth $4,476,000 after buying an additional 103,452 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Candel Therapeutics during the 3rd quarter worth approximately $697,000. Institutional investors and hedge funds 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.