Candel Therapeutics (NASDAQ:CADL) Rating Increased to Hold at Wall Street Zen

Key Points

• Candel Therapeutics was recently upgraded by Wall Street Zen from a "sell" to a "hold" rating, indicating a more favorable outlook for the stock.
• Research analysts have varied opinions on the stock, with ratings ranging from "strong-buy" to "neutral," and an average target price set at $20.00.
• Shares of Candel Therapeutics opened at $4.81, with a 12-month price range between $3.79 and $14.60, reflecting significant volatility in its market performance.

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

Several other equities analysts also recently issued reports on the company. Brookline Capital Management upgraded Candel Therapeutics to a "strong-buy" rating in a research report on Wednesday, July 9th. HC Wainwright upgraded Candel Therapeutics to a "buy" rating and set a $23.00 target price for the company in a research report on Monday, June 30th. Finally, Bank of America downgraded Candel Therapeutics from a "buy" rating to a "neutral" rating and cut their target price for the stock from $13.00 to $7.00 in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $20.00.

Candel Therapeutics Stock Down 2.6%

NASDAQ CADL traded down $0.13 during trading hours on Friday, hitting $4.81. The company had a trading volume of 928,141 shares, compared to its average volume of 692,933. The firm's 50 day moving average is $5.90 and its 200 day moving average is $5.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.04 and a quick ratio of 7.04. The company has a market capitalization of $264.07 million, a price-to-earnings ratio of -6.97 and a beta of -0.90. Candel Therapeutics has a fifty-two week low of $3.79 and a fifty-two week high of $14.60.

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

Institutional Trading of Candel Therapeutics

A number of large investors have recently made changes to their positions in the company. Northern Trust Corp boosted its stake in shares of Candel Therapeutics by 3.9% during the 4th quarter. Northern Trust Corp now owns 165,021 shares of the company's stock worth $1,432,000 after buying an additional 6,250 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Candel Therapeutics during the fourth quarter worth approximately $30,000. Bank of America Corp DE increased its holdings in shares of Candel Therapeutics by 205.6% during the fourth quarter. Bank of America Corp DE now owns 66,811 shares of the company's stock worth $580,000 after purchasing an additional 44,952 shares during the period. Deutsche Bank AG increased its holdings in shares of Candel Therapeutics by 5,814.1% during the fourth quarter. Deutsche Bank AG now owns 31,522 shares of the company's stock worth $274,000 after purchasing an additional 30,989 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Candel Therapeutics by 12.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,165 shares of the company's stock worth $106,000 after purchasing an additional 1,340 shares during the period. Institutional investors own 13.93% of the company's stock.

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.