Candel Therapeutics (NASDAQ:CADL) Downgraded by Wall Street Zen to Sell

Key Points

• Candel Therapeutics was downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a negative outlook for the company's stock performance.
• Despite the downgrade, several other analysts have rated Candel Therapeutics positively, with a consensus rating of "Buy" and a target price of $20.00.
• The company's shares have shown a modest increase of 2.2% recently, opening at $5.00, but they remain below their one-year high of $14.60.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Friday.

Other equities analysts have also issued research reports about the company. HC Wainwright raised Candel Therapeutics to a "buy" rating and set a $23.00 price target on the stock in a research note on Monday, June 30th. Brookline Capital Management upgraded Candel Therapeutics to a "strong-buy" rating in a report on Wednesday, July 9th. Finally, Bank of America downgraded Candel Therapeutics from a "buy" rating to a "neutral" rating and cut their price objective for the company from $13.00 to $7.00 in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Candel Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $20.00.

Candel Therapeutics Stock Up 2.2%

Shares of CADL opened at $5.00 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.04 and a current ratio of 7.04. Candel Therapeutics has a one year low of $3.79 and a one year high of $14.60. The stock has a market capitalization of $274.50 million, a price-to-earnings ratio of -7.25 and a beta of -0.90. The stock has a 50 day moving average price of $5.99 and a 200 day moving average price of $6.10.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.08. Equities research analysts forecast that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.

Institutional Trading of Candel Therapeutics

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in shares of Candel Therapeutics in the 4th quarter valued at about $30,000. Tower Research Capital LLC TRC boosted its position in shares of Candel Therapeutics by 361.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company's stock valued at $49,000 after purchasing an additional 7,527 shares during the period. Taylor Financial Group Inc. acquired a new stake in shares of Candel Therapeutics in the 1st quarter valued at about $56,000. Private Advisor Group LLC acquired a new stake in shares of Candel Therapeutics in the 1st quarter valued at about $58,000. Finally, Invesco Ltd. acquired a new stake in Candel Therapeutics during the 1st quarter worth approximately $59,000. 13.93% of the stock is owned by institutional investors and hedge funds.

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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