Candel Therapeutics (NASDAQ:CADL) Upgraded by Brookline Capital Management to Strong-Buy Rating

Candel Therapeutics (NASDAQ:CADL - Get Free Report) was upgraded by equities researchers at Brookline Capital Management to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other 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 raised shares of Candel Therapeutics to a "buy" rating and set a $23.00 price objective for the company in a research note on Monday, June 30th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $22.00.

Candel Therapeutics Stock Performance

Shares of CADL stock traded up $0.62 on Wednesday, reaching $6.43. The stock had a trading volume of 1,089,666 shares, compared to its average volume of 1,499,434. The firm has a market capitalization of $322.16 million, a price-to-earnings ratio of -4.80 and a beta of -0.91. The company has a quick ratio of 4.64, a current ratio of 4.64 and a debt-to-equity ratio of 0.01. Candel Therapeutics has a 12 month low of $3.79 and a 12 month high of $14.60. The firm's 50-day moving average is $5.29 and its two-hundred day moving average is $6.58.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued 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. On average, research analysts expect that Candel Therapeutics will post -1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Candel Therapeutics

Several large investors have recently modified their holdings of CADL. BNP Paribas Financial Markets bought a new position in Candel Therapeutics during the fourth quarter worth $30,000. Russell Investments Group Ltd. raised its stake in Candel Therapeutics by 75.1% during the fourth quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company's stock worth $33,000 after buying an additional 1,610 shares during the last quarter. Taylor Financial Group Inc. bought a new position in Candel Therapeutics during the first quarter worth $56,000. Private Advisor Group LLC bought a new position in Candel Therapeutics during the first quarter worth $58,000. Finally, Invesco Ltd. bought a new position in Candel Therapeutics during the first quarter worth $59,000. 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.