Candel Therapeutics, Inc. (NASDAQ:CADL) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Candel Therapeutics, Inc. (NASDAQ:CADL) has been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $20.14.

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Friday, July 17th. Wall Street Zen cut Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. UBS Group reaffirmed a “buy” rating on shares of Candel Therapeutics in a research report on Monday, August 17th. HC Wainwright reaffirmed a “buy” rating on shares of Candel Therapeutics in a report on Friday, October 2nd. Finally, Bank of America upgraded shares of Candel Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $12.00 to $18.00 in a research note on Monday, September 21st.

Insiders Place Their Bets

In related 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 value of $84,000.00. Following the completion of the sale, the chief technology officer directly owned 76,865 shares in the company, valued at $922,380. The trade was a 8.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 company. BlackRock Inc. bought a new stake in shares of Candel Therapeutics in the second quarter valued at about $51,181,000. Bank of America Corp DE acquired a new position in shares of Candel Therapeutics in the second quarter valued at about $2,873,000. Wellington Management Group LLP bought a new position in Candel Therapeutics during the second quarter worth about $2,119,000. Bank of New York Mellon Corp bought a new position in Candel Therapeutics during the second quarter worth about $1,975,000. Finally, Janus Henderson Group PLC bought a new position in Candel Therapeutics during the first quarter worth about $845,000. Institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Price Performance

Shares of CADL opened at $9.94 on Friday. The company has a current ratio of 16.09, a quick ratio of 16.09 and a debt-to-equity ratio of 0.38. Candel Therapeutics has a 1 year low of $4.35 and a 1 year high of $14.00. The stock has a market cap of $760.61 million, a P/E ratio of -7.05 and a beta of -0.32. The stock’s 50-day moving average price is $11.52 and its two-hundred day moving average price is $9.17.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). On average, equities analysts predict that Candel Therapeutics will post -1.29 earnings per share for the current year.

About Candel Therapeutics

Candel Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing biological immunotherapies designed to stimulate and strengthen the body’s immune response against cancer. The company’s approach uses engineered viruses intended to selectively target tumors and activate broader antitumor immunity.

Candel’s pipeline includes CAN-3110, an investigational oncolytic immunotherapy being developed for high-grade glioma, including recurrent glioblastoma. The company is also developing CAN-2409, a non-replicating adenovirus-based therapy designed to work with a prodrug to trigger localized cancer-cell destruction and immune activation.