Candel Therapeutics (NASDAQ:CADL) Stock Price Up 6.1% - Should You Buy?

Key Points

• Shares of Candel Therapeutics were up 6.1% mid-day, trading as high as $6.92 and last at $6.8620 on unusually low volume (206,896 shares, down ~84% versus the ~1.26M average).
• Analyst views are mixed—six Buys, one Hold and two Sells—with a MarketBeat consensus target of $18 even as recent price targets have been cut (e.g., Citigroup to $22, Canaccord at $25) and some firms issued downgrades.
• Director Paul B. Manning made a notable insider purchase of 550,458 shares at $5.45 (~$3.0M), increasing his stake; insiders now own about 16.60% of the company.

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) rose 6.1% during mid-day trading on Monday . The company traded as high as $6.92 and last traded at $6.8620. Approximately 206,896 shares were traded during trading, a decline of 84% from the average daily volume of 1,255,679 shares. The stock had previously closed at $6.47.

Analyst Ratings Changes

CADL has been the topic of a number of research analyst reports. Citigroup cut their price objective on shares of Candel Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday, March 13th. Canaccord Genuity Group reissued a "buy" rating and set a $25.00 price objective on shares of Candel Therapeutics in a research report on Friday, March 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Candel Therapeutics in a research report on Monday, April 20th. Cantor Fitzgerald initiated coverage on shares of Candel Therapeutics in a research report on Monday, April 20th. They set an "overweight" rating on the stock. Finally, Zacks Research cut shares of Candel Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 7th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Candel Therapeutics has an average rating of "Hold" and a consensus target price of $18.00.

Candel Therapeutics Price Performance

The firm has a market cap of $533.04 million, a price-to-earnings ratio of -10.27 and a beta of -0.59. 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 business has a 50 day simple moving average of $5.31 and a 200-day simple moving average of $5.44.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.30). Equities research analysts expect that Candel Therapeutics, Inc. will post -0.94 earnings per share for the current year.

Insider Transactions at Candel Therapeutics

In related news, Director Paul B. Manning purchased 550,458 shares of the business's stock in a transaction on Monday, February 23rd. The stock was acquired at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the purchase, the director owned 2,763,527 shares of the company's stock, valued at approximately $15,061,222.15. This trade represents a 24.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 16.60% of the company's stock.

Hedge Funds Weigh In On Candel Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CADL. Vanguard Group Inc. lifted its position in shares of Candel Therapeutics by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company's stock worth $10,236,000 after buying an additional 219,563 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Candel Therapeutics by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 977,512 shares of the company's stock worth $5,524,000 after buying an additional 49,315 shares in the last quarter. Halter Ferguson Financial Inc. lifted its position in shares of Candel Therapeutics by 20.9% during the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company's stock worth $4,430,000 after buying an additional 155,996 shares in the last quarter. State Street Corp lifted its position in shares of Candel Therapeutics by 15.0% during the 4th quarter. State Street Corp now owns 792,218 shares of the company's stock worth $4,476,000 after buying an additional 103,452 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Candel Therapeutics during the 3rd quarter worth approximately $697,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.