Candel Therapeutics (NASDAQ:CADL) Issues Quarterly Earnings Results, Beats Expectations By $0.37 EPS

Candel Therapeutics (NASDAQ:CADL - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.37, Zacks reports.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL traded up $0.24 during mid-day trading on Friday, hitting $5.35. The company had a trading volume of 1,123,643 shares, compared to its average volume of 1,465,941. The stock has a market cap of $263.59 million, a price-to-earnings ratio of -3.09 and a beta of -0.92. Candel Therapeutics has a 12 month low of $3.79 and a 12 month high of $14.60. The firm's 50 day simple moving average is $5.75 and its two-hundred day simple moving average is $6.66.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Bank of America assumed coverage on Candel Therapeutics in a research note on Friday, February 7th. They set a "buy" rating and a $15.00 price target for the company. Citigroup began coverage on Candel Therapeutics in a report on Thursday, February 20th. They issued a "buy" rating and a $25.00 price target for the company. HC Wainwright reissued a "buy" rating and issued a $19.00 price target on shares of Candel Therapeutics in a report on Friday, April 11th. Finally, Canaccord Genuity Group increased their price target on Candel Therapeutics from $20.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, February 26th.

Insider Buying and Selling

In related news, insider Charles Schoch sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $8.83, for a total value of $44,150.00. Following the sale, the insider now owns 38,038 shares of the company's stock, valued at approximately $335,875.54. This trade represents a 11.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Seshu Tyagarajan sold 31,278 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $8.82, for a total value of $275,871.96. Following the completion of the sale, the chief technology officer now directly owns 85,512 shares in the company, valued at approximately $754,215.84. This trade represents a 26.78% decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.60% of the company's stock.

Institutional Trading of Candel Therapeutics

A hedge fund recently raised its stake in Candel Therapeutics stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) by 37.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,748 shares of the company's stock after acquiring an additional 4,583 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Candel Therapeutics were worth $95,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.