Wall Street Zen Upgrades Candel Therapeutics (NASDAQ:CADL) to "Hold"

Key Points

• Wall Street Zen upgraded Candel Therapeutics to “Hold” from “Sell,” while Zacks Research also moved to “Hold.” Overall analyst sentiment remains a “Moderate Buy,” with seven Buy ratings and an average price target of $18.57.
• Candel shares opened at $10.59, near their 52-week high of $11.36, and the company’s latest quarterly loss of $0.14 per share beat the consensus estimate of a $0.30 loss.
• Institutional ownership increased as several funds expanded their positions, although two company insiders sold shares in June. Candel is developing oncolytic viral therapies for solid tumors, including lead programs CAN-2409 and CAN-3110.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Other research analysts have also issued reports about the company. Zacks Research upgraded Candel Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Candel Therapeutics in a report on Friday, July 17th. HC Wainwright reissued a "buy" rating and issued a $23.00 target price on shares of Candel Therapeutics in a research note on Wednesday, July 29th. Cantor Fitzgerald started coverage on Candel Therapeutics in a report on Monday, April 20th. They set an "overweight" rating on the stock. Finally, Stifel Nicolaus began coverage on Candel Therapeutics in a research report on Monday, July 13th. They set a "buy" rating and a $22.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.57.

Candel Therapeutics Trading Up 0.1%

Shares of NASDAQ CADL opened at $10.59 on Friday. Candel Therapeutics has a fifty-two week low of $4.35 and a fifty-two week high of $11.36. The firm has a market capitalization of $775.93 million, a P/E ratio of -10.81 and a beta of -0.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 28.05 and a quick ratio of 28.05. The company's 50 day simple moving average is $9.44 and its 200 day simple moving average is $7.23.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.16. On average, analysts predict that Candel Therapeutics will post -0.91 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Seshu Tyagarajan sold 7,000 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $10.02, for a total value of $70,140.00. Following the completion of the sale, the chief technology officer owned 83,865 shares in the company, valued at $840,327.30. This represents a 7.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Francesca Barone sold 23,447 shares of the firm's 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 sale, the insider directly owned 77,362 shares in the company, valued at $778,261.72. The trade was a 23.26% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 14.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. bought a new stake in shares of Candel Therapeutics in the first quarter worth about $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Candel Therapeutics by 37.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company's stock valued at $95,000 after purchasing an additional 4,583 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Candel Therapeutics by 26.8% during the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company's stock valued at $188,000 after purchasing an additional 7,030 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Candel Therapeutics by 31.5% in the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company's stock valued at $4,575,000 after purchasing an additional 216,509 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Candel Therapeutics by 36.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company's stock valued at $99,000 after purchasing an additional 5,270 shares during the period. 13.93% of the stock is owned by institutional investors and hedge funds.

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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