Candel Therapeutics (NASDAQ:CADL) Shares Up 5.6% - What's Next?

Key Points

• Candel Therapeutics shares rose 5.6% to about $13.58, although trading volume was 92% below the average session volume.
• Analysts remain broadly optimistic, with eight Buy ratings, two Holds and one Sell; the consensus rating is “Moderate Buy” with a $19.29 price target.
• The company missed quarterly earnings expectations, reporting a loss of $0.52 per share versus the anticipated $0.24 loss, while insiders sold 37,447 shares worth approximately $390,000 over the past three months.

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report)'s stock price traded up 5.6% on Tuesday . The stock traded as high as $13.57 and last traded at $13.5810. Approximately 122,371 shares were traded during trading, a decline of 92% from the average session volume of 1,523,547 shares. The stock had previously closed at $12.86.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. UBS Group reiterated a "buy" rating on shares of Candel Therapeutics in a report on Monday, August 17th. Bank of America raised their target price on shares of Candel Therapeutics from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Friday, August 14th. Stifel Nicolaus assumed coverage on shares of Candel Therapeutics in a research report on Monday, July 13th. They issued a "buy" rating and a $22.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Candel Therapeutics in a report on Friday, July 17th. Finally, Zacks Research upgraded Candel Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.29.

Candel Therapeutics Stock Up 6.2%

The firm has a 50-day moving average of $10.19 and a two-hundred day moving average of $7.70. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -9.66 and a beta of -0.51. The company has a quick ratio of 16.09, a current ratio of 16.09 and a debt-to-equity ratio of 0.38.

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). As a group, sell-side analysts anticipate that Candel Therapeutics, Inc. will post -1.29 earnings per share for the current year.

Insider Activity at Candel Therapeutics

In related news, insider Francesca Barone sold 23,447 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $10.06, for a total value of $235,876.82. Following the completion of the sale, the insider directly owned 77,362 shares in the company, valued at approximately $778,261.72. This represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of the stock in a transaction 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 transaction, the chief technology officer directly owned 76,865 shares in the company, valued at $922,380. The trade was a 8.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,447 shares of company stock valued at $390,017 over the last three months. Insiders own 14.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its position in Candel Therapeutics by 177.0% during the second quarter. California State Teachers Retirement System now owns 6,571 shares of the company's stock worth $638,000 after purchasing an additional 4,199 shares during the period. AXQ Capital LP raised its position in shares of Candel Therapeutics by 50.8% in the second quarter. AXQ Capital LP now owns 31,460 shares of the company's stock valued at $324,000 after purchasing an additional 10,596 shares during the period. Cookson Peirce & Co. Inc. acquired a new stake in shares of Candel Therapeutics in the second quarter worth $618,000. Wellington Management Group LLP bought a new stake in shares of Candel Therapeutics during the 2nd quarter worth $2,119,000. Finally, Bank of America Corp DE bought a new stake in shares of Candel Therapeutics during the 2nd quarter worth $2,873,000. 13.93% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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