Candel Therapeutics, Inc. (NASDAQ:CADL) Given Average Rating of "Buy" by Analysts

Key Points

• Candel Therapeutics, Inc. (NASDAQ:CADL) has received a consensus rating of "Buy" from five research firms, with one strong buy and three buy recommendations.
• The average twelve-month price target set by analysts on CADL is $20.00, significantly higher than its current trading price of $5.29.
• Institutional investors own 13.93% of Candel Therapeutics, with notable increases in holdings from Acorn Capital Advisors and Geode Capital Management during the second quarter.

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) have been assigned a consensus rating of "Buy" from the five research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $20.00.

CADL has been the topic of a number of recent research reports. Brookline Capital Management upgraded shares of Candel Therapeutics to a "strong-buy" rating in a report on Wednesday, July 9th. HC Wainwright upgraded shares of Candel Therapeutics to a "buy" rating and set a $23.00 price target on the stock in a report on Monday, June 30th. Bank of America lowered shares of Candel Therapeutics from a "buy" rating to a "neutral" rating and dropped their target price for the company from $13.00 to $7.00 in a report on Wednesday, September 3rd. Finally, Wall Street Zen upgraded shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday.

Hedge Funds Weigh In On Candel Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acorn Capital Advisors LLC lifted its holdings in Candel Therapeutics by 19.9% in the second quarter. Acorn Capital Advisors LLC now owns 2,580,517 shares of the company's stock valued at $13,057,000 after buying an additional 428,265 shares during the period. Geode Capital Management LLC lifted its holdings in Candel Therapeutics by 31.5% in the second quarter. Geode Capital Management LLC now owns 903,970 shares of the company's stock valued at $4,575,000 after buying an additional 216,509 shares during the period. Halter Ferguson Financial Inc. raised its holdings in shares of Candel Therapeutics by 12.0% during the second quarter. Halter Ferguson Financial Inc. now owns 776,516 shares of the company's stock valued at $3,929,000 after purchasing an additional 83,363 shares during the period. Tanager Wealth Management LLP acquired a new position in shares of Candel Therapeutics during the second quarter valued at about $995,000. Finally, Northern Trust Corp raised its holdings in shares of Candel Therapeutics by 3.9% during the fourth quarter. Northern Trust Corp now owns 165,021 shares of the company's stock valued at $1,432,000 after purchasing an additional 6,250 shares during the period. Institutional investors and hedge funds own 13.93% of the company's stock.

Candel Therapeutics Stock Performance

NASDAQ CADL opened at $5.29 on Wednesday. The firm's fifty day moving average price is $5.86 and its two-hundred day moving average price is $5.72. The stock has a market cap of $290.39 million, a PE ratio of -7.67 and a beta of -0.90. Candel Therapeutics has a fifty-two week low of $3.79 and a fifty-two week high of $14.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.04 and a current ratio of 7.04.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.08. On average, equities analysts expect that Candel Therapeutics will post -1.47 EPS for the current fiscal year.

About Candel Therapeutics

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.

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