HC Wainwright Reaffirms Buy Rating for Candel Therapeutics (NASDAQ:CADL)

Key Points

• HC Wainwright reaffirmed its Buy rating on Candel Therapeutics and set a $23 price target, implying approximately 108% upside from the prior close.
• Analyst sentiment is broadly positive, with seven Buy, two Hold, and one Sell rating; the consensus rating is “Moderate Buy” with an average price target of $18.57.
• Candel shares rose to $11.05, near their 12-month high, but the company reported a quarterly EPS loss of $0.52—worse than the expected $0.22 loss. Two insiders also recently sold shares.

Candel Therapeutics (NASDAQ:CADL - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $23.00 price target on the stock. HC Wainwright's price target indicates a potential upside of 108.05% from the stock's previous close.

A number of other brokerages have also commented on CADL. Wall Street Zen upgraded Candel Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Candel Therapeutics in a report on Friday, July 17th. Stifel Nicolaus started coverage on shares of Candel Therapeutics in a research note on Monday, July 13th. They issued a "buy" rating and a $22.00 price objective for the company. Zacks Research raised shares of Candel Therapeutics from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Finally, Cantor Fitzgerald started coverage on shares of Candel Therapeutics in a research report on Monday, April 20th. They set an "overweight" rating on the stock. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.57.

Candel Therapeutics Stock Performance

Candel Therapeutics stock traded up $0.38 on Thursday, reaching $11.05. 930,577 shares of the stock were exchanged, compared to its average volume of 1,520,633. The stock has a market cap of $810.00 million, a PE ratio of -11.27 and a beta of -0.51. The firm has a fifty day moving average price of $9.57 and a two-hundred day moving average price of $7.33. Candel Therapeutics has a twelve month low of $4.35 and a twelve month high of $11.48. The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.30). Sell-side analysts anticipate that Candel Therapeutics will post -0.91 EPS for the current year.

Insiders Place Their Bets

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 7,000 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $10.02, for a total value of $70,140.00. Following the sale, the chief technology officer directly owned 83,865 shares in the company, valued at $840,327.30. This represents a 7.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Francesca Barone sold 23,447 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $10.06, for a total value of $235,876.82. Following the transaction, the insider owned 77,362 shares of the company's stock, valued at $778,261.72. This represents a 23.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 14.30% of the company's stock.

Institutional Trading of Candel Therapeutics

Several hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in Candel Therapeutics by 128.2% in the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company's stock worth $40,000 after purchasing an additional 4,439 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Candel Therapeutics by 361.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company's stock valued at $49,000 after buying an additional 7,527 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Candel Therapeutics in the fourth quarter valued at about $51,000. ProShare Advisors LLC acquired a new position in Candel Therapeutics during the 4th quarter worth about $59,000. Finally, Invesco Ltd. bought a new stake in Candel Therapeutics during the 1st quarter worth about $59,000. Institutional investors and hedge funds own 13.93% of the company's stock.

Candel Therapeutics Company Profile

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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