Analysts Set Candel Therapeutics, Inc. (NASDAQ:CADL) Price Target at $22.00

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) has been given a consensus recommendation of "Buy" by the five research firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $22.00.

Several equities analysts have commented on the company. HC Wainwright raised Candel Therapeutics to a "buy" rating and set a $23.00 price objective for the company in a research report on Monday, June 30th. Brookline Capital Management raised shares of Candel Therapeutics to a "strong-buy" rating in a research note on Wednesday. Finally, Wall Street Zen raised shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Hedge Funds Weigh In On Candel Therapeutics

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in shares of Candel Therapeutics in the fourth quarter worth $30,000. Russell Investments Group Ltd. raised its position in Candel Therapeutics by 75.1% in the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company's stock worth $33,000 after buying an additional 1,610 shares during the last quarter. Taylor Financial Group Inc. bought a new position in Candel Therapeutics during the 1st quarter valued at about $56,000. Private Advisor Group LLC purchased a new stake in shares of Candel Therapeutics during the 1st quarter valued at about $58,000. Finally, Invesco Ltd. bought a new stake in shares of Candel Therapeutics in the first quarter worth approximately $59,000. Hedge funds and other institutional investors own 13.93% of the company's stock.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL traded down $0.34 during midday trading on Friday, hitting $5.81. 787,265 shares of the company traded hands, compared to its average volume of 1,497,238. Candel Therapeutics has a 12-month low of $3.79 and a 12-month high of $14.60. The stock has a 50-day moving average price of $5.28 and a 200 day moving average price of $6.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.64 and a quick ratio of 4.64.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.37. On average, equities research analysts forecast that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.

Candel Therapeutics Company Profile

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.