Candel Therapeutics, Inc. (NASDAQ:CADL) Stock Has Consensus Price Target of $20.14 According to Brokerages

Key Points

• Analysts broadly favor Candel Therapeutics: Eleven firms give the stock a consensus “Moderate Buy” rating, with nine buys, one hold and one sell. The average 12-month price target is $20.14, nearly double the reported $10.18 opening price.
• Recent results fell short of expectations: Candel reported a quarterly loss of $0.52 per share versus the consensus estimate of a $0.24 loss, while analysts expect a full-year loss of $1.29 per share.
• Institutional interest has increased, but insider ownership declined: BlackRock and several other institutions opened positions, contributing to 13.93% institutional ownership. CTO Seshu Tyagarajan sold 7,000 shares, while insiders collectively own 14.30% of the company.

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) has received an average recommendation of "Moderate Buy" from the eleven ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $20.14.

A number of research analysts recently weighed in on the company. Bank of America raised Candel Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $12.00 to $18.00 in a report on Monday, September 21st. HC Wainwright reissued a "buy" rating on shares of Candel Therapeutics in a report on Friday. Stifel Nicolaus began 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. Weiss Ratings reiterated a "sell (d-)" rating on shares of Candel Therapeutics in a report on Friday, July 17th. Finally, Wall Street Zen cut shares of Candel Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, August 16th.

Candel Therapeutics Stock Performance

Shares of CADL opened at $10.18 on Friday. The stock has a market capitalization of $778.97 million, a P/E ratio of -7.22 and a beta of -0.32. Candel Therapeutics has a 1 year low of $4.35 and a 1 year high of $14.00. The company's fifty day moving average is $11.51 and its two-hundred day moving average is $9.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 16.09 and a current ratio of 16.09.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.28). On average, sell-side analysts predict that Candel Therapeutics will post -1.29 earnings per share for the current year.

Insider Transactions at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 7,000 shares of Candel Therapeutics stock in a transaction that occurred on Monday, August 17th. The shares were 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 directly owned 76,865 shares in the company, valued at approximately $922,380. This trade represents a 8.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.30% of the company's stock.

Institutional Investors Weigh In On Candel Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Candel Therapeutics during the second quarter worth $51,181,000. Bank of America Corp DE purchased a new position in shares of Candel Therapeutics in the second quarter valued at $2,873,000. Wellington Management Group LLP purchased a new position in shares of Candel Therapeutics in the second quarter valued at $2,119,000. Bank of New York Mellon Corp acquired a new position in shares of Candel Therapeutics during the 2nd quarter worth $1,975,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Candel Therapeutics during the 1st quarter worth $845,000. Institutional investors and hedge funds own 13.93% of the company's stock.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing biological immunotherapies designed to stimulate and strengthen the body's immune response against cancer. The company's approach uses engineered viruses intended to selectively target tumors and activate broader antitumor immunity.

Candel's pipeline includes CAN-3110, an investigational oncolytic immunotherapy being developed for high-grade glioma, including recurrent glioblastoma. The company is also developing CAN-2409, a non-replicating adenovirus-based therapy designed to work with a prodrug to trigger localized cancer-cell destruction and immune activation.

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