Candel Therapeutics (NASDAQ:CADL) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Candel Therapeutics (NASDAQ:CADL) from a sell rating to a hold rating in a research note issued to investors on Saturday.

CADL has been the subject of a number of other reports. Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Stifel Nicolaus assumed coverage on shares of Candel Therapeutics in a report on Monday, July 13th. They set a “buy” rating and a $22.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $23.00 price objective on shares of Candel Therapeutics in a research report on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday, July 17th. Finally, Cantor Fitzgerald initiated coverage on Candel Therapeutics in a research report on Monday, April 20th. They issued an “overweight” rating for the company. Seven 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.com, Candel Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $18.57.

Candel Therapeutics Price Performance

Shares of CADL opened at $10.59 on Friday. The firm has a market cap of $775.93 million, a PE ratio of -10.81 and a beta of -0.51. Candel Therapeutics has a 52-week low of $4.35 and a 52-week high of $11.36. The business’s 50 day moving average price is $9.44 and its two-hundred day moving average price is $7.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 28.05 and a current ratio of 28.05.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.16. On average, equities analysts anticipate that Candel Therapeutics will post -0.91 EPS for the current year.

Insiders Place Their Bets

In other Candel Therapeutics news, insider Francesca Barone sold 23,447 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $10.06, for a total transaction of $235,876.82. Following the transaction, the insider 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $10.02, for a total transaction of $70,140.00. Following the completion of the transaction, the chief technology officer directly owned 83,865 shares in the company, valued at $840,327.30. This trade represents a 7.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 14.30% 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. BlackRock Inc. purchased a new position in shares of Candel Therapeutics during the second quarter valued at approximately $51,181,000. Vanguard Group Inc. lifted its stake in Candel Therapeutics by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after acquiring an additional 219,563 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Candel Therapeutics by 31.5% during the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock worth $4,575,000 after acquiring an additional 216,509 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Candel Therapeutics in the 2nd quarter worth $1,975,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Candel Therapeutics in the first quarter valued at about $845,000. Institutional investors and hedge funds own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

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.