Candel Therapeutics (NASDAQ:CADL) Stock Price Target Cut by Stifel Nicolaus

Key Points

• Stifel Nicolaus cut its price target on Candel Therapeutics from $22 to $19 but maintained a Buy rating; the new target implies 126.46% upside from the previous close.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $21, with nine Buy ratings and two Sell ratings.
• Candel shares opened at $8.39 after a reported 9% decline. The company’s latest quarterly loss of $0.28 per share was narrower than analysts’ expected loss of $0.34.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) had its target price reduced by research analysts at Stifel Nicolaus from $22.00 to $19.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus's target price would suggest a potential upside of 126.46% from the company's previous close.

CADL has been the subject of a number of other reports. UBS Group reissued a "buy" rating on shares of Candel Therapeutics in a research note on Monday, August 17th. HC Wainwright reaffirmed a "buy" rating on shares of Candel Therapeutics in a research note on Friday, October 2nd. Bank of America raised Candel Therapeutics from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $12.00 to $18.00 in a research note on Monday, September 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Candel Therapeutics in a report on Thursday, October 15th. Finally, Wall Street Zen downgraded Candel Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, August 16th. Nine analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Candel Therapeutics Stock Down 9.0%

Shares of CADL stock opened at $8.39 on Friday. The stock has a market cap of $642.00 million, a P/E ratio of -5.95 and a beta of -0.27. Candel Therapeutics has a 52 week low of $4.35 and a 52 week high of $14.00. 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 company's fifty day simple moving average is $9.89 and its two-hundred day simple moving average is $8.39.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its quarterly earnings data on Friday, November 13th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.06. Analysts predict that Candel Therapeutics will post -1.29 EPS 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 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 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 filing with the SEC, which is available at the SEC website. 14.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CADL. BlackRock Inc. purchased a new position in Candel Therapeutics in the second quarter worth about $51,181,000. Bank of America Corp DE purchased a new stake in Candel Therapeutics during the second quarter valued at approximately $2,873,000. Wellington Management Group LLP bought a new stake in shares of Candel Therapeutics in the 2nd quarter valued at approximately $2,119,000. Bank of New York Mellon Corp bought a new stake in shares of Candel Therapeutics in the 2nd quarter valued at approximately $1,975,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Candel Therapeutics in the 1st quarter valued at approximately $845,000. Institutional investors own 13.93% of the company's stock.

About Candel Therapeutics

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.

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