Candel Therapeutics (NASDAQ:CADL – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.
According to Zacks, “Candel Therapeutics Inc. is a late clinical stage biopharmaceutical company. It involved in developing novel oncolytic viral immunotherapies. The company’s product pipeline includes CAN-2409 and CAN-3110. Candel Therapeutics Inc. is based in NEEDHAM, Mass. “
Separately, BMO Capital Markets decreased their target price on shares of Candel Therapeutics from $18.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, March 31st. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Candel Therapeutics presently has an average rating of “Buy” and a consensus price target of $14.50.
Candel Therapeutics (NASDAQ:CADL – Get Rating) last announced its quarterly earnings results on Tuesday, March 29th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.63. Candel Therapeutics had a negative net margin of 29,132.26% and a negative return on equity of 29.17%. On average, sell-side analysts expect that Candel Therapeutics will post -1.91 EPS for the current year.
Large investors have recently modified their holdings of the stock. UBS Group AG acquired a new position in Candel Therapeutics in the 3rd quarter valued at approximately $33,000. D. E. Shaw & Co. Inc. acquired a new position in Candel Therapeutics in the 4th quarter valued at approximately $79,000. Goldman Sachs Group Inc. acquired a new position in Candel Therapeutics in the 4th quarter valued at approximately $83,000. Millennium Management LLC acquired a new position in Candel Therapeutics in the 3rd quarter valued at approximately $115,000. Finally, Empirical Asset Management LLC acquired a new position in Candel Therapeutics in the 1st quarter valued at approximately $61,000. 24.23% of the stock is owned by institutional investors and hedge funds.
Candel Therapeutics Company Profile (Get Rating)
Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. The company develops CAN-2409, which is in Phase II clinical trails 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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