Candel Therapeutics (NASDAQ:CADL) Shares Up 8.1% - Here's Why

Key Points

• Candel Therapeutics shares rose 8.1% on Friday, trading as high as $9.85 and last changing hands at $10.245, though volume was far below average.
• Analyst sentiment is mostly positive, with recent coverage including a buy from Stifel and overweight from Cantor Fitzgerald; the stock carries a Moderate Buy consensus and an average price target of $18.57.
• The company recently reported a smaller-than-expected loss of $0.14 per share, beating estimates, even as insiders sold shares and institutional ownership remained meaningful.

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) were up 8.1% on Friday . The company traded as high as $9.85 and last traded at $10.2450. Approximately 196,488 shares were traded during trading, a decline of 87% from the average daily volume of 1,570,099 shares. The stock had previously closed at $9.48.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Candel Therapeutics in a research note on Monday, April 20th. Cantor Fitzgerald started coverage on Candel Therapeutics in a research note on Monday, April 20th. They issued an "overweight" rating for the company. Stifel Nicolaus started coverage on Candel Therapeutics in a research note on Monday. They issued a "buy" rating and a $22.00 target price for the company. Wall Street Zen raised Candel Therapeutics from a "sell" rating to a "hold" rating in a report on Monday, June 1st. 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 equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Candel Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $18.57.

Candel Therapeutics Trading Up 8.9%

The company has a quick ratio of 28.05, a current ratio of 28.05 and a debt-to-equity ratio of 0.34. The firm has a market cap of $756.51 million, a price-to-earnings ratio of -10.50 and a beta of -0.52. The business's fifty day moving average is $8.87 and its two-hundred day moving average is $6.76.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.16. Equities analysts anticipate that Candel Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Candel Therapeutics

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

Institutional Trading of Candel Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CADL. Halter Ferguson Financial Inc. boosted its stake in shares of Candel Therapeutics by 20.9% in the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company's stock valued at $4,430,000 after purchasing an additional 155,996 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Candel Therapeutics by 28.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,520 shares of the company's stock worth $109,000 after buying an additional 4,772 shares during the period. Invesco Ltd. bought a new stake in shares of Candel Therapeutics during the first quarter worth approximately $59,000. BNP Paribas Financial Markets raised its stake in shares of Candel Therapeutics by 128.2% during the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company's stock worth $40,000 after buying an additional 4,439 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Candel Therapeutics in the first quarter valued at approximately $63,000. 13.93% of the stock is owned by 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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