Candel Therapeutics, Inc. (NASDAQ:CADL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) have earned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.2857.

Several equities research analysts have weighed in on CADL shares. Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Stifel Nicolaus started coverage on shares of Candel Therapeutics in a research report on Monday, July 13th. They set a “buy” rating and a $22.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $23.00 price target on shares of Candel Therapeutics in a research note on Thursday, August 13th. Bank of America boosted their price objective on shares of Candel Therapeutics from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a report on Friday, July 17th.

Candel Therapeutics Price Performance

Candel Therapeutics stock opened at $12.60 on Wednesday. The business’s fifty day moving average is $11.07 and its two-hundred day moving average is $8.27. 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 firm has a market cap of $964.15 million, a P/E ratio of -8.94 and a beta of -0.48. Candel Therapeutics has a 52 week low of $4.35 and a 52 week high of $14.00.

Candel Therapeutics (NASDAQ:CADL) last announced its earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). Equities research analysts forecast that Candel Therapeutics will post -1.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $12.00, for a total transaction of $84,000.00. Following the completion of the sale, the chief technology officer owned 76,865 shares in the company, valued at $922,380. The trade was a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $235,876.82. Following the transaction, the insider directly owned 77,362 shares in the company, valued at $778,261.72. This trade represents a 23.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,447 shares of company stock valued at $390,017 over the last three months. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC acquired a new stake in Candel Therapeutics during the 1st quarter worth $845,000. BlackRock Inc. acquired a new position in shares of Candel Therapeutics in the 2nd quarter valued at $51,181,000. Halter Ferguson Financial Inc. lifted its stake in shares of Candel Therapeutics by 20.9% in the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock valued at $4,430,000 after purchasing an additional 155,996 shares during the period. Deutsche Bank AG bought a new position in shares of Candel Therapeutics in the 2nd quarter worth $648,000. Finally, Cookson Peirce & Co. Inc. bought a new position in shares of Candel Therapeutics in the 2nd quarter worth $618,000. 13.93% of the stock is currently owned by institutional investors and hedge funds.

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.