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 analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

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

Candel Therapeutics Trading Up 3.1%

NASDAQ:CADL traded up $0.16 during mid-day trading on Friday, hitting $5.39. 97,023 shares of the stock traded hands, compared to its average volume of 1,003,615. The stock has a market capitalization of $295.91 million, a price-to-earnings ratio of -7.78 and a beta of -0.90. Candel Therapeutics has a 52 week low of $3.79 and a 52 week high of $14.60. The firm's 50 day moving average is $5.88 and its two-hundred day moving average is $5.73. The company has a quick ratio of 7.04, a current ratio of 7.04 and a debt-to-equity ratio of 0.01.

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 (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.08. On average, equities research analysts predict that Candel Therapeutics will post -1.47 earnings per share for the current year.

Institutional Investors Weigh In On Candel Therapeutics

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of Candel Therapeutics during the 4th quarter worth about $30,000. Tower Research Capital LLC TRC raised its stake in shares of Candel Therapeutics by 361.7% during the second 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. bought a new stake in shares of Candel Therapeutics in the first quarter worth $56,000. Private Advisor Group LLC bought a new stake in Candel Therapeutics during the first quarter valued at $58,000. Finally, Invesco Ltd. bought a new stake in Candel Therapeutics during the first quarter valued at $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.