Candel Therapeutics (NASDAQ:CADL) Upgraded by HC Wainwright to "Buy" Rating

Candel Therapeutics (NASDAQ:CADL - Get Free Report) was upgraded by investment analysts at HC Wainwright to a "buy" rating in a research report issued on Monday, MarketBeat.com reports. The brokerage currently has a $23.00 price objective on the stock. HC Wainwright's target price points to a potential upside of 363.80% from the stock's current price. HC Wainwright also issued estimates for Candel Therapeutics' Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.17) EPS, FY2025 earnings at ($0.38) EPS, FY2026 earnings at ($0.44) EPS, FY2027 earnings at ($0.30) EPS, FY2028 earnings at $0.06 EPS and FY2029 earnings at $1.09 EPS.

Separately, Wall Street Zen raised Candel Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.00.

Candel Therapeutics Trading Up 2.2%

Candel Therapeutics stock traded up $0.11 during midday trading on Monday, reaching $4.96. 438,225 shares of the stock traded hands, compared to its average volume of 1,472,115. The company has a 50-day simple moving average of $5.22 and a two-hundred day simple moving average of $6.74. Candel Therapeutics has a 12-month low of $3.79 and a 12-month high of $14.60. The firm has a market cap of $248.45 million, a PE ratio of -3.70 and a beta of -0.91. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 0.01.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.37. Research analysts expect that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Candel Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Baker BROS. Advisors LP bought a new stake in shares of Candel Therapeutics during the 4th quarter valued at $25,884,000. Acorn Capital Advisors LLC acquired a new stake in shares of Candel Therapeutics in the 4th quarter valued at approximately $16,836,000. Braidwell LP acquired a new stake in Candel Therapeutics in the 4th quarter valued at about $13,888,000. Portolan Capital Management LLC acquired a new stake in Candel Therapeutics during the fourth quarter worth approximately $6,543,000. Finally, Halter Ferguson Financial Inc. lifted its holdings in shares of Candel Therapeutics by 123.7% during the fourth quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company's stock worth $5,914,000 after buying an additional 376,795 shares in the last quarter. Institutional investors own 13.93% of the company's stock.

About Candel Therapeutics

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.