Weiss Ratings Reiterates "Sell (D-)" Rating for Candel Therapeutics (NASDAQ:CADL)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Candel Therapeutics (NASDAQ:CADL), indicating continued negative sentiment from the firm regarding the company's stock performance.
• While Weiss Ratings maintains a bearish outlook, other analysts have issued mixed ratings, including a "Buy" rating from HC Wainwright and a downgrade from Bank of America to a "Neutral" rating with a reduced price target of $7.00.
• Candel Therapeutics' stock price increased to $6.30 on Wednesday, with a substantial trading volume of nearly 2 million shares, significantly above its average volume.

Candel Therapeutics (NASDAQ:CADL - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also weighed in on CADL. HC Wainwright reissued a "buy" rating and issued a $23.00 target price on shares of Candel Therapeutics in a research note on Monday, September 29th. Wall Street Zen upgraded Candel Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Bank of America downgraded Candel Therapeutics from a "buy" rating to a "neutral" rating and reduced their price target for the company from $13.00 to $7.00 in a report on Wednesday, September 3rd. Finally, Brookline Capital Management upgraded Candel Therapeutics to a "strong-buy" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Candel Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $20.00.

Candel Therapeutics Price Performance

CADL stock traded up $0.67 during mid-day trading on Wednesday, hitting $6.30. 1,981,512 shares of the stock were exchanged, compared to its average volume of 997,693. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.04 and a quick ratio of 7.04. The business has a fifty day moving average price of $5.58 and a 200 day moving average price of $5.52. Candel Therapeutics has a 12 month low of $3.79 and a 12 month high of $14.60. The stock has a market capitalization of $345.87 million, a price-to-earnings ratio of -9.13 and a beta of -0.94.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.08. On average, sell-side analysts anticipate that Candel Therapeutics will post -1.47 EPS for the current year.

Institutional Trading of Candel Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CADL. Tower Research Capital LLC TRC lifted its position in Candel Therapeutics by 361.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company's stock valued at $49,000 after acquiring an additional 7,527 shares in the last quarter. Taylor Financial Group Inc. bought a new position in Candel Therapeutics in the 1st quarter valued at approximately $56,000. Private Advisor Group LLC bought a new position in Candel Therapeutics in the 1st quarter valued at approximately $58,000. Invesco Ltd. bought a new position in Candel Therapeutics in the 1st quarter valued at approximately $59,000. Finally, AlphaQuest LLC bought a new position in Candel Therapeutics in the 1st quarter valued at approximately $61,000. Hedge funds and other institutional investors own 13.93% of the company's stock.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.

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