Brookline Capital Management Upgrades Candel Therapeutics (NASDAQ:CADL) to Strong-Buy

Candel Therapeutics (NASDAQ:CADL - Get Free Report) was upgraded by analysts at Brookline Capital Management to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. HC Wainwright upgraded shares of Candel Therapeutics to a "buy" rating and set a $23.00 price objective for the company in a research report on Monday, June 30th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $22.00.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL traded down $0.34 during midday trading on Wednesday, reaching $5.81. The stock had a trading volume of 787,265 shares, compared to its average volume of 1,501,066. The stock has a 50-day moving average of $5.29 and a 200-day moving average of $6.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.64 and a current ratio of 4.64. The company has a market capitalization of $291.08 million, a price-to-earnings ratio of -4.34 and a beta of -0.91. Candel Therapeutics has a 12-month low of $3.79 and a 12-month high of $14.60.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.37. As a group, research analysts anticipate that Candel Therapeutics will post -1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Candel Therapeutics

Several institutional investors have recently bought and sold shares of the business. Halter Ferguson Financial Inc. lifted its holdings in shares of Candel Therapeutics by 12.0% in the 2nd quarter. Halter Ferguson Financial Inc. now owns 776,516 shares of the company's stock worth $3,929,000 after acquiring an additional 83,363 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Candel Therapeutics by 26.8% in the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company's stock worth $188,000 after acquiring an additional 7,030 shares during the last quarter. Acorn Capital Advisors LLC lifted its holdings in shares of Candel Therapeutics by 11.0% in the 1st quarter. Acorn Capital Advisors LLC now owns 2,152,252 shares of the company's stock worth $12,160,000 after acquiring an additional 212,608 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Candel Therapeutics by 37.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company's stock worth $95,000 after acquiring an additional 4,583 shares during the last quarter. Finally, Corebridge Financial Inc. lifted its holdings in shares of Candel Therapeutics by 29.4% in the 1st quarter. Corebridge Financial Inc. now owns 13,933 shares of the company's stock worth $79,000 after acquiring an additional 3,163 shares during the last quarter. Institutional investors own 13.93% of the company's stock.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.