Candel Therapeutics (NASDAQ:CADL) Sets New 12-Month High - Here's What Happened

Key Points

• Candel Therapeutics shares reached a new 52-week high of $11.45, closing above the prior session at approximately $11.18 on volume of about 636,000 shares.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $18.57; recent targets from Stifel and HC Wainwright were $22 and $23, respectively.
• The company reported a quarterly loss of $0.52 per share, missing expectations by $0.30, while insiders recently sold shares and institutional investors own about 13.93% of the stock.

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $11.45 and last traded at $11.1760, with a volume of 635969 shares changing hands. The stock had previously closed at $10.68.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CADL shares. Stifel Nicolaus started coverage on shares of Candel Therapeutics in a research report on Monday, July 13th. They set a "buy" rating and a $22.00 price target on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Candel Therapeutics in a report on Friday, July 17th. HC Wainwright reaffirmed a "buy" rating and set a $23.00 target price on shares of Candel Therapeutics in a report on Thursday. Wall Street Zen upgraded shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded shares of Candel Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $18.57.

Candel Therapeutics Price Performance

The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34. The business's 50 day moving average price is $9.57 and its two-hundred day moving average price is $7.33. The stock has a market cap of $823.19 million, a P/E ratio of -11.41 and a beta of -0.51.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.30). As a group, sell-side analysts expect that Candel Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Insider Activity at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the business's stock in a transaction 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 owned 83,865 shares in the company, valued at approximately $840,327.30. The trade was a 7.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Francesca Barone sold 23,447 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 77,362 shares in the company, valued at $778,261.72. This represents a 23.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 14.30% of the company's stock.

Institutional Investors Weigh In On Candel Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its position in shares of Candel Therapeutics by 128.2% in 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 in the last quarter. Tower Research Capital LLC TRC increased its position in Candel Therapeutics by 361.7% during 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 in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Candel Therapeutics during the 4th quarter valued at approximately $51,000. ProShare Advisors LLC purchased a new position in Candel Therapeutics during the fourth quarter valued at $59,000. Finally, Invesco Ltd. purchased a new position in Candel Therapeutics during the first quarter valued at $59,000. Hedge funds and other institutional investors 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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