Candel Therapeutics, Inc. $CADL Shares Purchased by Halter Ferguson Financial Inc.

Key Points

• Halter Ferguson Financial Inc. increased its stake in Candel Therapeutics by 12.0%, owning approximately 776,516 shares, making it the firm's 9th largest holding.
• Candel Therapeutics recently faced analyst downgrades from Bank of America as they cut their stock rating to neutral with a price target of $7.00, while HC Wainwright raised their rating to buy with a $23.00 target.
• The company's stock is currently priced at $4.81 with a market capitalization of $264.07 million, following a recent 2.6% decline in stock value.

Halter Ferguson Financial Inc. raised its stake in Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) by 12.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 776,516 shares of the company's stock after purchasing an additional 83,363 shares during the period. Candel Therapeutics accounts for about 1.4% of Halter Ferguson Financial Inc.'s holdings, making the stock its 9th biggest position. Halter Ferguson Financial Inc. owned 1.55% of Candel Therapeutics worth $3,929,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in Candel Therapeutics in the fourth quarter valued at approximately $30,000. Taylor Financial Group Inc. purchased a new position in shares of Candel Therapeutics during the first quarter worth approximately $56,000. Private Advisor Group LLC purchased a new position in shares of Candel Therapeutics during the first quarter worth approximately $58,000. Invesco Ltd. purchased a new position in shares of Candel Therapeutics during the first quarter worth approximately $59,000. Finally, AlphaQuest LLC purchased a new position in shares of Candel Therapeutics during the first quarter worth approximately $61,000. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CADL. Wall Street Zen upgraded shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday. HC Wainwright upgraded shares of Candel Therapeutics to a "buy" rating and set a $23.00 target price on the stock in a research report on Monday, June 30th. Bank of America lowered shares of Candel Therapeutics from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $13.00 to $7.00 in a research report on Wednesday, September 3rd. Finally, Brookline Capital Management upgraded shares of Candel Therapeutics to a "strong-buy" rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $20.00.

Candel Therapeutics Stock Performance

NASDAQ:CADL traded up $0.07 during midday trading on Tuesday, reaching $5.30. The stock had a trading volume of 746,213 shares, compared to its average volume of 1,006,997. The stock has a market cap of $290.70 million, a P/E ratio of -7.68 and a beta of -0.90. Candel Therapeutics, Inc. has a 12-month low of $3.79 and a 12-month high of $14.60. The firm has a fifty day simple moving average of $5.88 and a two-hundred day simple moving average of $5.73. The company has a quick ratio of 7.04, a current ratio of 7.04 and a debt-to-equity ratio of 0.01.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.08. On average, equities analysts expect that Candel Therapeutics, Inc. will post -1.47 EPS for the current year.

Candel Therapeutics 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.