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

Key Points

• Consensus "Hold" rating: Nine analysts cover CADL with a consensus "Hold" (2 sell, 1 hold, 6 buy) and an average 12‑month target price of $18.00.
• Analysts have moved around targets and ratings recently (Citigroup cut its target to $22, Canaccord at $25; Weiss and Zacks issued negative ratings while Cantor Fitzgerald started with "overweight"), and the company missed quarterly EPS (reported -$0.54 vs. expected -$0.24) with analysts forecasting ~-0.94 EPS for the year.
• Insider and institutional activity: Director Paul B. Manning bought 550,458 shares at $5.45, boosting insider ownership to 16.6%, while institutional investors hold about 13.9% of the stock.

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) have been assigned a consensus rating of "Hold" from the nine ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $18.00.

CADL has been the subject of a number of recent analyst reports. Citigroup lowered their target price on shares of Candel Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Canaccord Genuity Group restated a "buy" rating and set a $25.00 price target on shares of Candel Therapeutics in a research note on Friday, March 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Candel Therapeutics in a report on Monday, April 20th. Zacks Research lowered shares of Candel Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 7th. Finally, Cantor Fitzgerald initiated coverage on Candel Therapeutics in a research report on Monday, April 20th. They issued an "overweight" rating on the stock.

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Candel Therapeutics Stock Performance

Shares of CADL opened at $7.63 on Thursday. The company has a current ratio of 13.49, a quick ratio of 13.49 and a debt-to-equity ratio of 0.91. The firm has a market cap of $559.05 million, a PE ratio of -10.75 and a beta of -0.59. Candel Therapeutics has a 12 month low of $4.34 and a 12 month high of $7.99. The stock has a fifty day moving average price of $5.42 and a 200-day moving average price of $5.46.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.30). Equities research analysts predict that Candel Therapeutics will post -0.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul B. Manning purchased 550,458 shares of the company's stock in a transaction on Monday, February 23rd. The shares were acquired at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the purchase, the director owned 2,763,527 shares in the company, valued at $15,061,222.15. This trade represents a 24.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.60% of the company's stock.

Institutional Investors Weigh In On Candel Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. purchased a new stake in Candel Therapeutics in the first quarter valued at approximately $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Candel Therapeutics by 37.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company's stock worth $95,000 after buying an additional 4,583 shares during the last quarter. Rhumbline Advisers raised its position in Candel Therapeutics by 26.8% during the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company's stock worth $188,000 after buying an additional 7,030 shares during the last quarter. Geode Capital Management LLC lifted its stake in Candel Therapeutics by 31.5% during the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company's stock valued at $4,575,000 after acquiring an additional 216,509 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Candel Therapeutics by 36.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company's stock valued at $99,000 after acquiring an additional 5,270 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company's stock.

About Candel Therapeutics

Candel Therapeutics NASDAQ: CADL is a clinical-stage immuno-oncology company focused on the development of next-generation oncolytic viral therapies designed to treat solid tumors. The company's lead candidate, CAN-2409, is a locally administered, gene-delivered viral therapy engineered to selectively replicate in cancer cells and induce immunogenic cell death. Candel leverages proprietary virus engineering platforms to enhance tumor-specific replication and stimulate anti-tumor immune responses, aiming to improve outcomes for patients with high unmet medical needs.

In addition to its lead program, Candel's pipeline includes CAN-3110, an oncolytic herpes simplex virus targeting recurrent high-grade glioma, and other novel viral constructs being explored for a variety of solid tumor indications.

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