Candel Therapeutics (NASDAQ:CADL) Shares Up 5.6% – Time to Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s share price was up 5.6% on Tuesday . The company traded as high as $13.57 and last traded at $13.5810. 122,371 shares traded hands during trading, a decline of 92% from the average session volume of 1,523,547 shares. The stock had previously closed at $12.86.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CADL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday, July 17th. UBS Group reaffirmed a “buy” rating on shares of Candel Therapeutics in a report on Monday, August 17th. Bank of America lifted their price target on Candel Therapeutics from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Stifel Nicolaus began coverage on Candel Therapeutics in a research report on Monday, July 13th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.29.

Candel Therapeutics Trading Up 6.2%

The business has a 50-day moving average price of $10.19 and a 200-day moving average price of $7.70. The company has a quick ratio of 16.09, a current ratio of 16.09 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.04 billion, a P/E ratio of -9.66 and a beta of -0.51.

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

Insiders Place Their Bets

In other news, insider Francesca Barone sold 23,447 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $10.06, for a total transaction of $235,876.82. Following the completion of the transaction, the insider directly owned 77,362 shares of the company’s stock, valued at approximately $778,261.72. This trade represents a 23.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Seshu Tyagarajan sold 7,000 shares of Candel Therapeutics stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $12.00, for a total transaction of $84,000.00. Following the sale, the chief technology officer owned 76,865 shares in the company, valued at approximately $922,380. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 37,447 shares of company stock valued at $390,017. Corporate insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new stake in shares of Candel Therapeutics in the 2nd quarter valued at approximately $63,000. California State Teachers Retirement System lifted its position in shares of Candel Therapeutics by 177.0% during the 2nd quarter. California State Teachers Retirement System now owns 6,571 shares of the company’s stock worth $638,000 after buying an additional 4,199 shares during the period. BNP Paribas Financial Markets boosted its stake in Candel Therapeutics by 128.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after buying an additional 4,439 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Candel Therapeutics in the 4th quarter valued at $51,000. Finally, Tower Research Capital LLC TRC grew its position in Candel Therapeutics by 361.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock valued at $49,000 after acquiring an additional 7,527 shares during the period. 13.93% of the stock is owned by institutional investors and hedge funds.

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.