Candel Therapeutics (NASDAQ:CADL) Reaches New 12-Month High - Still a Buy?

Key Points

• Candel Therapeutics (NASDAQ:CADL) hit a new 52-week high, trading as high as $8.70 and last changing hands at $9.00, after rising about 8.9% on the day.
• Analyst opinion is mixed: several firms rate the stock a Buy, but others have issued Sell ratings, leaving the overall consensus at Hold with an average price target of $18.00.
• The company remains a clinical-stage immuno-oncology biotech and recently reported a quarterly loss of $0.54 per share, wider than expected, while insiders and some institutions have recently increased their holdings.

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $8.70 and last traded at $9.00, with a volume of 200243 shares trading hands. The stock had previously closed at $8.35.

Analyst Ratings Changes

Several brokerages recently issued reports on CADL. Cantor Fitzgerald began coverage on shares of Candel Therapeutics in a research report on Monday, April 20th. They set an "overweight" rating on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $25.00 price objective on shares of Candel Therapeutics in a research note on Friday, March 13th. Citigroup dropped their price objective on shares of Candel Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, March 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Candel Therapeutics in a research note on Monday, April 20th. Finally, Zacks Research lowered shares of Candel Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 7th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $18.00.

Candel Therapeutics Trading Up 8.9%

The firm's 50 day moving average price is $5.47 and its 200-day moving average price is $5.48. The stock has a market cap of $666.32 million, a P/E ratio of -12.82 and a beta of -0.59. The company has a debt-to-equity ratio of 0.91, a current ratio of 13.49 and a quick ratio of 13.49.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.30). As a group, equities research analysts forecast that Candel Therapeutics, Inc. will post -0.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Paul B. Manning acquired 550,458 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were bought at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the completion of the transaction, the director directly owned 2,763,527 shares in the company, valued at approximately $15,061,222.15. This trade represents a 24.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.30% of the stock is currently owned by company insiders.

Institutional Trading of Candel Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC increased its holdings in Candel Therapeutics by 4.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 42,517 shares of the company's stock valued at $240,000 after buying an additional 2,000 shares during the last quarter. Alps Advisors Inc. increased its holdings in Candel Therapeutics by 71.5% during the fourth quarter. Alps Advisors Inc. now owns 45,079 shares of the company's stock valued at $255,000 after buying an additional 18,801 shares during the last quarter. Rhumbline Advisers increased its holdings in Candel Therapeutics by 63.6% during the second quarter. Rhumbline Advisers now owns 54,498 shares of the company's stock valued at $276,000 after buying an additional 21,196 shares during the last quarter. Geode Capital Management LLC increased its holdings in Candel Therapeutics by 31.5% during the second quarter. Geode Capital Management LLC now owns 903,970 shares of the company's stock valued at $4,575,000 after buying an additional 216,509 shares during the last quarter. Finally, Barclays PLC increased its holdings in Candel Therapeutics by 16.4% during the fourth quarter. Barclays PLC now owns 69,344 shares of the company's stock valued at $392,000 after buying an additional 9,749 shares during the last quarter. 13.93% of the stock is owned by hedge funds and other 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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