Candel Therapeutics, Inc. (NASDAQ:CADL) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Nine of 11 firms rate Candel Therapeutics a buy, while two recommend selling. The average 12-month price target is $21.43, with targets including $18 from Bank of America and $25 from Jefferies.
• Institutional ownership increased: BlackRock, Bank of America, Wellington Management and Bank of New York Mellon were among investors establishing new positions, while Halter Ferguson increased its stake. Institutions and hedge funds own 13.93% of the stock.
• Recent financial performance was weaker than expected: Candel reported a quarterly loss of $0.52 per share, missing the $0.24 consensus estimate, and analysts expect a full-year loss of $1.29 per share. The company is developing engineered viral immunotherapies for cancer, including its CAN-3110 candidate.

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $21.43.

Several research firms have weighed in on CADL. HC Wainwright restated a "buy" rating on shares of Candel Therapeutics in a research note on Friday, October 2nd. Wall Street Zen cut Candel Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, August 16th. Bank of America upgraded shares of Candel Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the stock from $12.00 to $18.00 in a report on Monday, September 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Candel Therapeutics in a report on Thursday, October 15th. Finally, Jefferies Financial Group began coverage on shares of Candel Therapeutics in a research report on Thursday, October 22nd. They set a "buy" rating and a $25.00 price target on the stock.

Insider Activity

In related news, CTO Seshu Tyagarajan sold 7,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $922,380. This trade represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 14.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Candel Therapeutics

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Candel Therapeutics in the 2nd quarter valued at about $51,181,000. Halter Ferguson Financial Inc. grew its stake in Candel Therapeutics by 20.9% in the first quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company's stock valued at $4,430,000 after acquiring an additional 155,996 shares during the period. Bank of America Corp DE bought a new stake in shares of Candel Therapeutics during the second quarter valued at approximately $2,873,000. Wellington Management Group LLP bought a new stake in shares of Candel Therapeutics during the second quarter valued at approximately $2,119,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Candel Therapeutics during the second quarter valued at approximately $1,975,000. 13.93% of the stock is currently owned by institutional investors and hedge funds.

Candel Therapeutics Stock Up 5.1%

CADL opened at $8.67 on Thursday. Candel Therapeutics has a 1-year low of $4.35 and a 1-year high of $14.00. The stock's fifty day simple moving average is $10.86 and its 200 day simple moving average is $8.25. The company has a current ratio of 16.09, a quick ratio of 16.09 and a debt-to-equity ratio of 0.38. The stock has a market cap of $663.42 million, a PE ratio of -6.15 and a beta of -0.32.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last released 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). As a group, research analysts expect that Candel Therapeutics will post -1.29 earnings per share for the current year.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc is a clinical-stage biopharmaceutical company developing biological immunotherapies designed to stimulate the immune system to recognize and attack cancer. The company's approach uses engineered viral therapies intended to promote immunogenic cell death and generate broader, potentially systemic antitumor immune responses.

Candel's pipeline includes CAN-3110, an investigational oncolytic immunotherapy based on a genetically engineered herpes simplex virus type 1.

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