Candel Therapeutics (NASDAQ:CADL) Shares Gap Down After Analyst Downgrade

Key Points

• Candel shares plunged after Canaccord cut its price target from $25 to $13, while retaining a Buy rating; the stock opened at $5.33, down from its prior close of $8.39.
• Analyst views remain mixed but lean positive: nine analysts rate CADL Buy and two Sell, with a consensus “Moderate Buy” rating and $19.29 average target price.
• Candel’s third-quarter loss of $0.28 per share was narrower than expected, but its planned application for aglatimagene has shifted to around mid-2027, delaying a key regulatory milestone.

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) shares gapped down prior to trading on Friday after Canaccord Genuity Group lowered their price target on the stock from $25.00 to $13.00. The stock had previously closed at $8.39, but opened at $5.33. Canaccord Genuity Group currently has a buy rating on the stock. Candel Therapeutics shares last traded at $6.55, with a volume of 3,882,990 shares traded.

A number of other research analysts have also commented on CADL. Wall Street Zen lowered Candel Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, August 16th. Stifel Nicolaus lowered their price objective on shares of Candel Therapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday. Bank of America raised shares of Candel Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $12.00 to $18.00 in a research report on Monday, September 21st. HC Wainwright reiterated a "buy" rating on shares of Candel Therapeutics in a research note on Friday, October 2nd. Finally, UBS Group reiterated a "buy" rating on shares of Candel Therapeutics in a research note on Monday, August 17th. Nine investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Candel Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $19.29.

Insider Transactions at Candel Therapeutics

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 7,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $12.00, for a total transaction of $84,000.00. Following the sale, the chief technology officer directly owned 76,865 shares of the company's stock, valued at approximately $922,380. This represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 14.30% of the stock is owned by corporate insiders.

Latest Candel Therapeutics News

These are some of the CADL news items that stood out recently:

• Positive Sentiment: Candel reported a third-quarter loss of $0.28 per share, narrower than analysts’ $0.34-per-share estimate. Candel Therapeutics Reports Third Quarter 2026 Financial Results
• Neutral Sentiment: Canaccord Genuity and Stifel Nicolaus kept Buy ratings but cut their price targets to $13 and $19, respectively, from $25 and $22. The retained ratings are supportive, while the lower targets reflect more cautious expectations. Canaccord Genuity price-target update Stifel Nicolaus price-target update
• Negative Sentiment: Candel now expects to submit a Biologics License Application for aglatimagene around mid-2027. The later timeline delays a key regulatory milestone and adds uncertainty about when the therapy could reach the market, weighing on the shares. Candel outlines mid-2027 BLA plan

Institutional Trading of Candel Therapeutics

Several hedge funds have recently modified their holdings of CADL. Janus Henderson Group PLC bought a new position in Candel Therapeutics in the first quarter valued at about $845,000. BlackRock Inc. acquired a new stake in Candel Therapeutics in the second quarter worth about $51,181,000. Wellington Management Group LLP acquired a new stake in Candel Therapeutics in the second quarter worth about $2,119,000. Bank of New York Mellon Corp bought a new stake in Candel Therapeutics during the 2nd quarter worth about $1,975,000. Finally, Squarepoint Ops LLC bought a new stake in Candel Therapeutics during the 2nd quarter worth about $775,000. 13.93% of the stock is owned by institutional investors.

Candel Therapeutics Price Performance

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 capitalization of $501.21 million, a P/E ratio of -4.67 and a beta of -0.27. The company has a fifty day simple moving average of $9.89 and a two-hundred day simple moving average of $8.39.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its earnings results on Friday, November 13th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.06. Sell-side analysts expect that Candel Therapeutics, Inc. will post -1.29 EPS for the current fiscal year.

About Candel Therapeutics

Candel Therapeutics is a clinical-stage biotechnology company developing viral immunotherapies designed to stimulate the immune system to fight cancer. Its approach uses engineered viruses to trigger immune responses against tumors. The company's clinical-stage programs include CAN-2409, an adenovirus-based therapy being studied in several solid tumors, and CAN-3110, an oncolytic herpes simplex virus therapy being investigated for recurrent glioblastoma. Based in Needham, Massachusetts, Candel conducts clinical development of its therapies for cancer indications.

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