Candel Therapeutics, Inc. (NASDAQ:CADL) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Candel Therapeutics has a consensus analyst rating of “Moderate Buy”, with 7 buy ratings, 2 holds, and 1 sell; the average 12-month price target is about $18.57.
• Recent analyst actions were mixed: Stifel Nicolaus initiated coverage with a buy rating and a $22 target, while other firms issued or reiterated hold/sell views.
• The stock was down 6.0% to $9.57 in recent trading, even after Candel reported quarterly EPS of -$0.14, beating expectations of -$0.30.

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the ten research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $18.5714.

Several research analysts have weighed in on the stock. Cantor Fitzgerald started coverage on shares of Candel Therapeutics in a report on Monday, April 20th. They set an "overweight" rating on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Candel Therapeutics in a research note on Friday. Stifel Nicolaus started coverage on shares of Candel Therapeutics in a report on Monday, July 13th. They issued a "buy" rating and a $22.00 price target on the stock. Zacks Research upgraded Candel Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Finally, Wall Street Zen downgraded Candel Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday.

Insider Buying and Selling at Candel Therapeutics

In other news, insider Francesca Barone sold 23,447 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.06, for a total transaction of $235,876.82. Following the transaction, the insider directly owned 77,362 shares in the company, valued at approximately $778,261.72. This represents a 23.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $10.02, for a total value of $70,140.00. Following the completion of the sale, the chief technology officer owned 83,865 shares of the company's stock, valued at $840,327.30. The trade was a 7.70% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 14.30% of the company's stock.

Institutional Investors Weigh In On Candel Therapeutics

Several hedge funds have recently bought and sold shares of the business. Halter Ferguson Financial Inc. lifted its stake in Candel Therapeutics by 20.9% in the first quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company's stock worth $4,430,000 after acquiring an additional 155,996 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Candel Therapeutics during the 1st quarter valued at $63,000. AlphaCentric Advisors LLC acquired a new stake in Candel Therapeutics in the first quarter worth about $178,000. Bank of New York Mellon Corp boosted its stake in Candel Therapeutics by 43.1% in the 1st quarter. Bank of New York Mellon Corp now owns 136,266 shares of the company's stock worth $668,000 after purchasing an additional 41,058 shares in the last quarter. Finally, HB Wealth Management LLC raised its stake in Candel Therapeutics by 15.3% in the 1st quarter. HB Wealth Management LLC now owns 67,245 shares of the company's stock worth $330,000 after acquiring an additional 8,900 shares during the last quarter. Institutional investors own 13.93% of the company's stock.

Candel Therapeutics Trading Down 6.0%

CADL opened at $9.57 on Tuesday. The company has a 50-day simple moving average of $8.93 and a 200 day simple moving average of $6.82. Candel Therapeutics has a twelve month low of $4.35 and a twelve month high of $11.36. The company has a quick ratio of 28.05, a current ratio of 28.05 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $701.19 million, a price-to-earnings ratio of -9.77 and a beta of -0.52.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $0.16. Analysts predict that Candel Therapeutics will post -0.91 EPS for the current fiscal year.

Candel Therapeutics Company Profile

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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