Candel Therapeutics (NASDAQ:CADL) Shares Gap Down Following Analyst Downgrade

Candel Therapeutics, Inc. (NASDAQ:CADL) shares gapped down prior to trading on Friday after Canaccord Genuity Group lowered their price target on the stock from $25.00 to $13.00. The stock had previously closed at $8.39, but opened at $5.33. Canaccord Genuity Group currently has a buy rating on the stock. Candel Therapeutics shares last traded at $6.55, with a volume of 3,882,990 shares changing hands.

A number of other research analysts also recently weighed in on CADL. UBS Group reaffirmed a “buy” rating on shares of Candel Therapeutics in a research report on Monday, August 17th. Jefferies Financial Group assumed coverage on shares of Candel Therapeutics in a research report on Thursday, October 22nd. They set a “buy” rating and a $25.00 price target on the stock. Bank of America upgraded shares of Candel Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $12.00 to $18.00 in a research note on Monday, September 21st. Stifel Nicolaus decreased their price objective on Candel Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Thursday, October 15th. Nine research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Insider Activity at Candel Therapeutics

In related news, CTO Seshu Tyagarajan sold 7,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $12.00, for a total value of $84,000.00. Following the transaction, the chief technology officer owned 76,865 shares in the company, valued at approximately $922,380. This represents a 8.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.30% of the company’s stock.

More Candel Therapeutics News

Investors following CADL have been watching these news items:

• Neutral Sentiment: Canaccord Genuity and Stifel Nicolaus kept Buy ratings but cut their price targets to $13 and $19, respectively, from $25 and $22. The retained ratings are supportive, while the lower targets reflect more cautious expectations. Canaccord Genuity price-target update Stifel Nicolaus price-target update
• Negative Sentiment: Candel now expects to submit a Biologics License Application for aglatimagene around mid-2027. The later timeline delays a key regulatory milestone and adds uncertainty about when the therapy could reach the market, weighing on the shares. Candel outlines mid-2027 BLA plan
• Negative Sentiment: Reports also highlighted a wider operating loss and FDA discussions, adding to concerns around the development timeline and execution. Candel shares fall on wider operating loss and FDA discussion

Hedge Funds Weigh In On Candel Therapeutics

Hedge funds have recently bought and sold shares of the business. AlphaCentric Advisors LLC grew its position in shares of Candel Therapeutics by 4.3% during the 3rd quarter. AlphaCentric Advisors LLC now owns 38,259 shares of the company’s stock worth $399,000 after purchasing an additional 1,576 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Candel Therapeutics by 19.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,962 shares of the company’s stock valued at $152,000 after buying an additional 2,301 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Candel Therapeutics by 12.6% in the first quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company’s stock valued at $149,000 after buying an additional 3,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Candel Therapeutics in the third quarter valued at approximately $41,000. Finally, Profund Advisors LLC boosted its stake in shares of Candel Therapeutics by 16.1% in the third quarter. Profund Advisors LLC now owns 33,301 shares of the company’s stock valued at $348,000 after buying an additional 4,624 shares during the period. 13.93% of the stock is owned by institutional investors.

Candel Therapeutics Trading Down 21.9%

The firm has a market capitalization of $501.21 million, a P/E ratio of -4.67 and a beta of -0.27. 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 50 day moving average of $9.89 and a 200-day moving average of $8.39.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings results on Friday, November 13th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. On average, equities research analysts predict that Candel Therapeutics, Inc. will post -1.29 earnings per share for the current fiscal year.

Candel Therapeutics Company Profile

Candel Therapeutics is a clinical-stage biotechnology company developing viral immunotherapies designed to stimulate the immune system to fight cancer. Its approach uses engineered viruses to trigger immune responses against tumors. The company’s clinical-stage programs include CAN-2409, an adenovirus-based therapy being studied in several solid tumors, and CAN-3110, an oncolytic herpes simplex virus therapy being investigated for recurrent glioblastoma. Based in Needham, Massachusetts, Candel conducts clinical development of its therapies for cancer indications.