Candel Therapeutics, Inc. (NASDAQ:CADL) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Candel Therapeutics, Inc. has received a consensus rating of "Buy" from five research firms, with a 12-month average target price of $22.00.
• Several institutional investors, including MetLife and JPMorgan, have increased their stakes in Candel Therapeutics, reflecting growing interest as institutional ownership reaches 13.93%.
• The company reported earnings of ($0.09) per share for its last quarter, outperforming analysts' expectations of ($0.17).

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) have earned a consensus rating of "Buy" from the five research firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $22.00.

A number of research analysts recently weighed in on the stock. 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 objective for the company in a report on Monday, June 30th. Finally, Wall Street Zen upgraded shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. MetLife Investment Management LLC lifted its stake in Candel Therapeutics by 9.7% in the fourth quarter. MetLife Investment Management LLC now owns 13,773 shares of the company's stock worth $120,000 after acquiring an additional 1,215 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Candel Therapeutics by 12.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,165 shares of the company's stock worth $106,000 after acquiring an additional 1,340 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Candel Therapeutics by 15.2% in the fourth quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company's stock worth $90,000 after acquiring an additional 1,375 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Candel Therapeutics by 3.0% in the fourth quarter. Nuveen Asset Management LLC now owns 68,226 shares of the company's stock worth $592,000 after acquiring an additional 2,009 shares during the last quarter. Finally, Corebridge Financial Inc. lifted its stake in Candel Therapeutics by 29.4% in the first quarter. Corebridge Financial Inc. now owns 13,933 shares of the company's stock worth $79,000 after acquiring an additional 3,163 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company's stock.

Candel Therapeutics Price Performance

Candel Therapeutics stock opened at $5.79 on Friday. Candel Therapeutics has a 12-month low of $3.79 and a 12-month high of $14.60. The stock has a market cap of $317.84 million, a P/E ratio of -8.39 and a beta of -0.88. The company has a 50-day moving average price of $5.94 and a 200 day moving average price of $6.23. The company has a current ratio of 7.04, a quick ratio of 7.04 and a debt-to-equity ratio of 0.01.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.08. Sell-side analysts anticipate that Candel Therapeutics will post -1.47 earnings per share for the current 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.

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