Candel Therapeutics (NASDAQ:CADL) Sees Large Volume Increase - Time to Buy?

Key Points

• Shares jumped sharply on Monday — 948,903 shares traded and the stock was trading up about 17.7% to roughly $7.27, well above its 50‑ and 200‑day moving averages.
• Analysts are mixed: six Buys, one Hold and two Sells leaves an average rating of “Hold” with an average price target of $18.00, while firms range from Cantor Fitzgerald (overweight) to Weiss Ratings (sell).
• Insider buying amid weak results: Director Paul B. Manning purchased 550,458 shares at $5.45 (raising his stake ~24.9%), even as the company missed quarterly EPS (‑$0.54 vs ‑$0.24 est.) and trades with a negative P/E and expected -1.47 EPS for the year.

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) saw strong trading volume on Monday . 948,903 shares traded hands during trading, a decline of 17% from the previous session's volume of 1,144,244 shares.The stock last traded at $7.2690 and had previously closed at $6.37.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Cantor Fitzgerald began coverage on Candel Therapeutics in a research note on Monday. They issued an "overweight" rating for the company. Zacks Research cut Candel Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 7th. Citigroup lowered their target price on Candel Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a report on Friday, March 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Candel Therapeutics in a report on Wednesday, January 21st. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $25.00 price target on shares of Candel Therapeutics in a research note on Friday, March 13th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $18.00.

Candel Therapeutics Trading Up 17.7%

The stock has a market cap of $549.01 million, a P/E ratio of -10.63 and a beta of -0.81. The company has a debt-to-equity ratio of 0.91, a quick ratio of 13.49 and a current ratio of 13.49. The firm's fifty day simple moving average is $5.14 and its 200-day simple moving average is $5.39.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.30). Equities research analysts expect that Candel Therapeutics, Inc. will post -1.47 EPS for the current fiscal year.

Insider Activity

In other Candel Therapeutics news, Director Paul B. Manning purchased 550,458 shares of the company's stock in a transaction on Monday, February 23rd. The shares were purchased at an average cost of $5.45 per share, with a total value of $2,999,996.10. Following the completion of the purchase, the director owned 2,763,527 shares in the company, valued at $15,061,222.15. This represents a 24.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Candel Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Krilogy Financial LLC boosted its holdings in Candel Therapeutics by 25.3% during the 1st quarter. Krilogy Financial LLC now owns 30,065 shares of the company's stock worth $155,000 after acquiring an additional 6,065 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Candel Therapeutics in the 4th quarter worth approximately $152,000. Invesco Ltd. grew its holdings in shares of Candel Therapeutics by 29.0% in the fourth quarter. Invesco Ltd. now owns 15,039 shares of the company's stock valued at $85,000 after acquiring an additional 3,380 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Candel Therapeutics during the fourth quarter valued at approximately $134,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Candel Therapeutics by 31.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,814 shares of the company's stock worth $146,000 after purchasing an additional 6,176 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company's stock.

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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