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

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).

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) has been given an average recommendation of "Buy" by the five ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $20.00.

Several brokerages have recently issued reports on CADL. 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. Bank of America cut shares of Candel Therapeutics from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $13.00 to $7.00 in a research report on Wednesday. Brookline Capital Management raised shares of Candel Therapeutics to a "strong-buy" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen raised shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Candel Therapeutics Trading Down 4.3%

Shares of NASDAQ CADL traded down $0.22 during trading on Friday, hitting $4.89. 924,083 shares of the company traded hands, compared to its average volume of 651,049. Candel Therapeutics has a 1 year low of $3.79 and a 1 year high of $14.60. The company has a 50-day moving average price of $5.99 and a 200-day moving average price of $6.13. The firm has a market capitalization of $268.46 million, a P/E ratio of -7.09 and a beta of -0.90. The company has a quick ratio of 7.04, a current 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 (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.08. On average, equities analysts predict that Candel Therapeutics will post -1.47 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC lifted its stake in shares of Candel Therapeutics by 86.6% in the fourth quarter. Squarepoint Ops LLC now owns 19,311 shares of the company's stock worth $168,000 after acquiring an additional 8,962 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Candel Therapeutics by 104.3% in the first quarter. Janney Montgomery Scott LLC now owns 21,090 shares of the company's stock worth $119,000 after acquiring an additional 10,765 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Candel Therapeutics by 3.9% in the fourth quarter. Northern Trust Corp now owns 165,021 shares of the company's stock worth $1,432,000 after acquiring an additional 6,250 shares in the last quarter. Rhumbline Advisers increased its holdings in Candel Therapeutics by 26.8% in the first quarter. Rhumbline Advisers now owns 33,302 shares of the company's stock valued at $188,000 after buying an additional 7,030 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Candel Therapeutics by 205.6% in the fourth quarter. Bank of America Corp DE now owns 66,811 shares of the company's stock valued at $580,000 after buying an additional 44,952 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company's stock.

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.