Candel Therapeutics (NASDAQ:CADL) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Candel Therapeutics (NASDAQ:CADL) from a hold rating to a strong sell rating in a report released on Wednesday morning,Zacks reports.

Other analysts also recently issued research reports about the company. Bank of America upgraded Candel Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $12.00 to $18.00 in a research note on Monday, September 21st. UBS Group reaffirmed a “buy” rating on shares of Candel Therapeutics in a research report on Monday, August 17th. Wall Street Zen cut Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a report on Thursday. Finally, HC Wainwright reissued a “buy” rating on shares of Candel Therapeutics in a report on Friday, October 2nd. Nine equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.14.

Candel Therapeutics Stock Down 1.8%

Shares of NASDAQ CADL opened at $8.91 on Wednesday. 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 12 month low of $4.35 and a 12 month high of $14.00. The firm has a market capitalization of $681.78 million, a PE ratio of -6.32 and a beta of -0.32. The firm has a fifty day simple moving average of $11.43 and a two-hundred day simple moving average of $9.32.

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

Insider Buying and Selling at Candel Therapeutics

In related news, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were 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 of the company’s stock, valued at $922,380. This trade represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Candel Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Candel Therapeutics in the second quarter worth approximately $51,181,000. Bank of America Corp DE purchased a new stake in Candel Therapeutics during the 2nd quarter valued at $2,873,000. Wellington Management Group LLP purchased a new stake in Candel Therapeutics during the 2nd quarter valued at $2,119,000. Bank of New York Mellon Corp purchased a new stake in Candel Therapeutics during the 2nd quarter valued at $1,975,000. Finally, Janus Henderson Group PLC bought a new position in shares of Candel Therapeutics during the 1st quarter valued at $845,000. 13.93% of the stock is owned by institutional investors.

Candel Therapeutics Company Profile

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.