Candel Therapeutics, Inc. (NASDAQ:CADL) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.2857.

Several equities research analysts have weighed in on CADL shares. Zacks Research upgraded shares of Candel Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. 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 target price on the stock. HC Wainwright reissued a "buy" rating and set a $23.00 price target on shares of Candel Therapeutics in a research note on Thursday, August 13th. Bank of America boosted their price objective on shares of Candel Therapeutics from $9.00 to $12.00 and gave the stock a "neutral" rating in a research report on Friday, August 14th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Candel Therapeutics in a report on Friday, July 17th.

Candel Therapeutics Price Performance

Candel Therapeutics stock opened at $12.60 on Wednesday. The business's fifty day moving average is $11.07 and its two-hundred day moving average is $8.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 16.09 and a current ratio of 16.09. The firm has a market cap of $964.15 million, a P/E ratio of -8.94 and a beta of -0.48. Candel Therapeutics has a 52 week low of $4.35 and a 52 week high of $14.00.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.28). Equities research analysts forecast that Candel Therapeutics will post -1.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $12.00, for a total transaction of $84,000.00. Following the completion of the sale, the chief technology officer owned 76,865 shares in the company, valued at $922,380. The trade was a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Francesca Barone sold 23,447 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $10.06, for a total value of $235,876.82. Following the transaction, the insider directly owned 77,362 shares in the company, valued at $778,261.72. This trade represents a 23.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,447 shares of company stock valued at $390,017 over the last three months. Insiders own 14.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC acquired a new stake in Candel Therapeutics during the 1st quarter worth $845,000. BlackRock Inc. acquired a new position in shares of Candel Therapeutics in the 2nd quarter valued at $51,181,000. Halter Ferguson Financial Inc. lifted 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 period. Deutsche Bank AG bought a new position in shares of Candel Therapeutics in the 2nd quarter worth $648,000. Finally, Cookson Peirce & Co. Inc. bought a new position in shares of Candel Therapeutics in the 2nd quarter worth $618,000. 13.93% of the stock is currently owned by institutional investors and hedge funds.

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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