Candel Therapeutics (NASDAQ:CADL) Coverage Initiated by Analysts at Stifel Nicolaus

Key Points

• Stifel Nicolaus initiated coverage on Candel Therapeutics with a buy rating and a $22 price target, implying about 131.8% upside from the prior close.
• Analyst sentiment is generally positive overall, with MarketBeat showing seven Buy ratings, two Holds, and one Sell; the consensus rating is Moderate Buy with an average target price of $18.57.
• Candel recently reported a smaller-than-expected quarterly loss of $0.14 per share versus the $0.30 estimate, while insiders also disclosed recent stock sales by the CTO and another insider.

Analysts at Stifel Nicolaus began coverage on shares of Candel Therapeutics (NASDAQ:CADL - Get Free Report) in a research note issued on Monday, Marketbeat reports. The brokerage set a "buy" rating and a $22.00 price target on the stock. Stifel Nicolaus' price target indicates a potential upside of 131.82% from the company's previous close.

Several other research firms also recently weighed in on CADL. Wall Street Zen upgraded shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, June 1st. Zacks Research upgraded Candel Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Cantor Fitzgerald began coverage on Candel Therapeutics in a report on Monday, April 20th. They issued an "overweight" rating on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Candel Therapeutics in a research report on Monday, April 20th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $18.57.

Candel Therapeutics Price Performance

NASDAQ CADL opened at $9.49 on Monday. The business's fifty day moving average price is $8.69 and its 200-day moving average price is $6.66. The stock has a market capitalization of $695.33 million, a price-to-earnings ratio of -9.68 and a beta of -0.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 28.05 and a quick ratio of 28.05. Candel Therapeutics has a 1-year low of $4.35 and a 1-year high of $11.36.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.30) by $0.16. On average, equities analysts predict that Candel Therapeutics will post -0.97 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Candel Therapeutics

Several large investors have recently modified their holdings of the stock. Halter Ferguson Financial Inc. increased its position in Candel Therapeutics by 20.9% during the first quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company's stock valued at $4,430,000 after acquiring an additional 155,996 shares during the last quarter. Krilogy Financial LLC lifted its stake in shares of Candel Therapeutics by 25.3% during the 1st quarter. Krilogy Financial LLC now owns 30,065 shares of the company's stock worth $155,000 after acquiring an additional 6,065 shares during the last quarter. ProShare Advisors LLC bought a new position in Candel Therapeutics in the 4th quarter valued at $59,000. Rhumbline Advisers increased its stake in Candel Therapeutics by 63.6% in the second quarter. Rhumbline Advisers now owns 54,498 shares of the company's stock worth $276,000 after purchasing an additional 21,196 shares during the period. Finally, LPL Financial LLC lifted its position in shares of Candel Therapeutics by 33.9% during the fourth quarter. LPL Financial LLC now owns 28,653 shares of the company's stock worth $162,000 after purchasing an additional 7,250 shares during the last quarter. Institutional investors own 13.93% of the company's stock.

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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