Candel Therapeutics (NASDAQ:CADL) Releases Earnings Results, Misses Expectations By $0.30 EPS

Key Points

• Candel Therapeutics reported quarterly EPS of -$0.52, missing the consensus estimate of -$0.22 by $0.30.
• Despite the earnings miss, shares rose 10.6% to $11.81, near the company’s 52-week high of $11.65, while analysts maintained a “Moderate Buy” consensus with an average price target of $18.57.
• Two insiders sold shares totaling roughly $306,000, while institutional ownership stood at 13.93% and insider ownership at 14.30%.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.30), FiscalAI reports.

Candel Therapeutics Stock Up 10.6%

Shares of CADL traded up $1.13 during mid-day trading on Thursday, hitting $11.81. 1,603,134 shares of the company's stock were exchanged, compared to its average volume of 1,523,831. The stock's 50-day moving average is $9.57 and its 200-day moving average is $7.33. The company has a debt-to-equity ratio of 0.34, a quick ratio of 28.05 and a current ratio of 28.05. Candel Therapeutics has a fifty-two week low of $4.35 and a fifty-two week high of $11.65. The company has a market cap of $865.17 million, a price-to-earnings ratio of -12.05 and a beta of -0.51.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Stifel Nicolaus assumed coverage on shares of Candel Therapeutics in a research report on Monday, July 13th. They set a "buy" rating and a $22.00 price objective for the company. Zacks Research upgraded shares of Candel Therapeutics from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Cantor Fitzgerald initiated coverage on Candel Therapeutics in a research report on Monday, April 20th. They issued an "overweight" rating on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Candel Therapeutics in a research report on Friday, July 17th. Seven 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, Candel Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.57.

Insider Buying and Selling

In related news, CTO Seshu Tyagarajan sold 7,000 shares of the company's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $10.02, for a total transaction of $70,140.00. Following the sale, the chief technology officer directly owned 83,865 shares of the company's stock, valued at $840,327.30. This represents a 7.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Francesca Barone sold 23,447 shares of the business's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $10.06, for a total transaction of $235,876.82. Following the completion of the transaction, the insider owned 77,362 shares of the company's stock, valued at approximately $778,261.72. This trade represents a 23.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 14.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CADL. BNP Paribas Financial Markets increased its holdings in 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 period. Tower Research Capital LLC TRC boosted its stake in shares of Candel Therapeutics by 361.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company's stock valued at $49,000 after buying an additional 7,527 shares during the period. Invesco Ltd. acquired a new position in shares of Candel Therapeutics during the first quarter worth about $59,000. The Manufacturers Life Insurance Company acquired a new position in shares of Candel Therapeutics during the second quarter worth about $70,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Candel Therapeutics by 37.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company's stock worth $95,000 after buying an additional 4,583 shares in the last quarter. 13.93% of the stock is owned by institutional investors and hedge funds.

About Candel Therapeutics

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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