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

Key Points

• Candel Therapeutics has received an average consensus rating of "Buy" from five analysts, with four recommending a buy and one a strong buy, alongside an average target price of $22.00.
• The company has shown promising financial performance, reporting $0.13 earnings per share in its last quarterly earnings, surpassing analyst expectations by $0.37.
• Candel Therapeutics is a clinical-stage biopharmaceutical company focusing on developing immunotherapies for cancer, currently with multiple clinical trials underway for various cancers.

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) have earned an average rating of "Buy" from the five research firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $22.00.

A number of brokerages have recently issued reports on CADL. Wall Street Zen raised shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. HC Wainwright raised shares of Candel Therapeutics to a "buy" rating and set a $23.00 price objective for the company in a research note on Monday, June 30th. Finally, Brookline Capital Management raised shares of Candel Therapeutics to a "strong-buy" rating in a research report on Wednesday, July 9th.

Candel Therapeutics Stock Performance

Shares of CADL stock traded up $0.10 during trading on Tuesday, reaching $5.94. 285,333 shares of the company's stock traded hands, compared to its average volume of 1,061,425. The company has a market capitalization of $297.61 million, a P/E ratio of -4.44 and a beta of -0.88. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average is $5.77 and its 200 day moving average is $6.38. Candel Therapeutics has a 1 year low of $3.79 and a 1 year high of $14.60.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.37. Equities research analysts expect that Candel Therapeutics will post -1.47 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Candel Therapeutics by 31.5% in the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company's stock valued at $4,575,000 after purchasing an additional 216,509 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Candel Therapeutics in the second quarter valued at $126,000. Tanager Wealth Management LLP acquired a new position in shares of Candel Therapeutics during the second quarter worth about $995,000. Janney Montgomery Scott LLC grew its position in Candel Therapeutics by 29.4% during the second quarter. Janney Montgomery Scott LLC now owns 27,290 shares of the company's stock worth $138,000 after buying an additional 6,200 shares during the period. Finally, Halter Ferguson Financial Inc. grew its position in shares of Candel Therapeutics by 12.0% in 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 last quarter. 13.93% of the stock is owned by hedge funds and other institutional investors.

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.