Candel Therapeutics (NASDAQ:CADL) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Candel Therapeutics shares fell below their 200-day moving average of $8.32 on Thursday, touching $7.92 and last trading at $8.04.
• Analyst views are mixed, but MarketBeat’s consensus rating is “Moderate Buy” from nine Buy and two Sell ratings, with an average price target of $21.43.
• The company reported a quarterly loss of $0.52 per share, missing the consensus estimate of a $0.24 loss.

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $8.32 and traded as low as $7.92. Candel Therapeutics shares last traded at $8.04, with a volume of 1,227,637 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Candel Therapeutics in a research note on Thursday, October 15th. Jefferies Financial Group initiated coverage on Candel Therapeutics in a research note on Thursday, October 22nd. They issued a "buy" rating and a $25.00 price target for the company. Wall Street Zen lowered Candel Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, August 16th. UBS Group reissued a "buy" rating on shares of Candel Therapeutics in a report on Monday, August 17th. Finally, Bank of America upgraded shares of Candel Therapeutics from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $12.00 to $18.00 in a research note on Monday, September 21st. Nine research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Candel Therapeutics has an average rating of "Moderate Buy" and an average price target of $21.43.

Candel Therapeutics Stock Down 11.2%

The firm's fifty day moving average price is $10.30 and its 200-day moving average price is $8.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 16.09 and a quick ratio of 16.09. The firm has a market capitalization of $615.21 million, a P/E ratio of -5.70 and a beta of -0.27.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.28). As a group, equities research analysts forecast that Candel Therapeutics, Inc. will post -1.29 earnings per share for the current year.

Insider Activity

In other news, CTO Seshu Tyagarajan sold 7,000 shares of Candel Therapeutics 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 approximately $922,380. This trade represents a 8.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 14.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. AlphaCentric Advisors LLC boosted its position in shares of Candel Therapeutics by 4.3% during the 3rd quarter. AlphaCentric Advisors LLC now owns 38,259 shares of the company's stock valued at $399,000 after purchasing an additional 1,576 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Candel Therapeutics by 19.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,962 shares of the company's stock worth $152,000 after purchasing an additional 2,301 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Candel Therapeutics by 12.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company's stock worth $149,000 after purchasing an additional 3,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Candel Therapeutics in the 3rd quarter worth approximately $41,000. Finally, Profund Advisors LLC raised its holdings in shares of Candel Therapeutics by 16.1% in the 3rd quarter. Profund Advisors LLC now owns 33,301 shares of the company's stock worth $348,000 after purchasing an additional 4,624 shares in the last quarter. Institutional investors own 13.93% of the company's stock.

About Candel Therapeutics

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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