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

Key Points

• Wall Street Zen downgraded Candel Therapeutics from hold to sell, even though the broader analyst community remains more optimistic overall with a consensus rating of Moderate Buy and an average target price of $18.57.
• The stock rose 7.4% and opened at $10.18, with shares trading near the top of their 52-week range. Candel also reported a smaller-than-expected quarterly loss of ($0.14) EPS, beating estimates of ($0.30).
• There was notable insider selling, including stock sales by CTO Seshu Tyagarajan and insider Francesca Barone, while institutional investors also increased or initiated positions in the company during recent quarters.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Other analysts have also recently issued reports about the stock. Zacks Research raised shares of Candel Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Cantor Fitzgerald started coverage on Candel Therapeutics in a report on Monday, April 20th. They issued an "overweight" rating on the stock. Stifel Nicolaus initiated coverage on Candel Therapeutics in a research report on Monday, July 13th. They set a "buy" rating and a $22.00 price target on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Candel Therapeutics in a research report on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.57.

Candel Therapeutics Stock Up 7.4%

Shares of NASDAQ:CADL opened at $10.18 on Friday. Candel Therapeutics has a 52 week low of $4.35 and a 52 week high of $11.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 28.05 and a current ratio of 28.05. The company's fifty day moving average is $8.91 and its 200-day moving average is $6.78. The company has a market capitalization of $745.89 million, a PE ratio of -10.39 and a beta of -0.52.

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, topping the consensus estimate of ($0.30) by $0.16. Equities research analysts predict that Candel Therapeutics will post -0.91 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $10.02, for a total transaction of $70,140.00. Following the sale, the chief technology officer directly owned 83,865 shares of the company's stock, valued at $840,327.30. This represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Francesca Barone sold 23,447 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $10.06, for a total transaction of $235,876.82. Following the completion of the sale, the insider directly owned 77,362 shares of the company's stock, valued at approximately $778,261.72. This represents a 23.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 14.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of Candel Therapeutics by 128.2% during the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company's stock worth $40,000 after acquiring an additional 4,439 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Candel Therapeutics by 361.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company's stock valued at $49,000 after acquiring an additional 7,527 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Candel Therapeutics in the fourth quarter valued at about $51,000. ProShare Advisors LLC acquired a new stake in Candel Therapeutics in the fourth quarter worth about $59,000. Finally, Invesco Ltd. acquired a new stake in Candel Therapeutics in the first quarter worth about $59,000. Institutional investors and hedge funds own 13.93% of the company's stock.

About Candel Therapeutics

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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