Candel Therapeutics (NASDAQ:CADL) Hits New 1-Year High - Here's Why

Key Points

• Candel Therapeutics shares reached a new 52-week high of $12.69, up from the prior close of $12.05. The stock’s 50-day and 200-day moving averages were $9.82 and $7.50, respectively.
• Analyst sentiment remains broadly positive, with eight Buy, two Hold, and one Sell ratings, producing a “Moderate Buy” consensus and an average price target of $19.29. However, the company missed its latest quarterly earnings estimate, reporting a loss of $0.52 per share versus the expected $0.24 loss.
• Candel is a clinical-stage immuno-oncology company developing oncolytic viral therapies for solid tumors, including lead candidate CAN-2409 and glioma-focused CAN-3110. Two insiders sold shares in June, while insiders own 14.30% of the company and institutional investors hold 13.93%.

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $12.69 and last traded at $12.6940, with a volume of 167235 shares trading hands. The stock had previously closed at $12.05.

Wall Street Analyst Weigh In

Several research firms have weighed in on CADL. HC Wainwright restated a "buy" rating and set a $23.00 price objective on shares of Candel Therapeutics in a report on Thursday, August 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Candel Therapeutics in a report on Friday, July 17th. Wall Street Zen downgraded shares of Candel Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday. Zacks Research upgraded shares of Candel Therapeutics from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Finally, UBS Group restated a "buy" rating on shares of Candel Therapeutics in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.29.

Candel Therapeutics Price Performance

The firm has a market cap of $982.81 million, a P/E ratio of -9.10 and a beta of -0.51. The company has a fifty day moving average of $9.82 and a 200-day moving average of $7.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 16.09 and a quick ratio of 16.09.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.28). On average, sell-side analysts anticipate that Candel Therapeutics, Inc. will post -1.3 EPS for the current fiscal year.

Insider Activity

In related news, insider Francesca Barone sold 23,447 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $10.06, for a total transaction of $235,876.82. Following the transaction, the insider directly owned 77,362 shares in the company, valued at approximately $778,261.72. The trade was a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of the company's stock in a transaction dated 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 sale, the chief technology officer directly owned 83,865 shares of the company's stock, valued at $840,327.30. The trade was a 7.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 14.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Candel Therapeutics

Several institutional investors have recently modified their holdings of CADL. Moneta Group Investment Advisors LLC raised its position in Candel Therapeutics by 4.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 42,517 shares of the company's stock worth $240,000 after acquiring an additional 2,000 shares during the period. Invesco Ltd. grew its position in shares of Candel Therapeutics by 29.0% during the 4th quarter. Invesco Ltd. now owns 15,039 shares of the company's stock valued at $85,000 after acquiring an additional 3,380 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Candel Therapeutics by 12.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company's stock valued at $149,000 after acquiring an additional 3,400 shares during the period. MetLife Investment Management LLC grew its position in shares of Candel Therapeutics by 25.5% during the 4th quarter. MetLife Investment Management LLC now owns 19,443 shares of the company's stock valued at $110,000 after acquiring an additional 3,955 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Candel Therapeutics by 128.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company's stock worth $40,000 after purchasing an additional 4,439 shares during the last quarter. 13.93% of the stock is owned by institutional investors.

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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