Candel Therapeutics (NASDAQ:CADL) Rating Increased to Hold at Wall Street Zen

Candel Therapeutics (NASDAQ:CADL) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other research analysts have also recently issued reports about the stock. HC Wainwright raised shares of Candel Therapeutics to a “buy” rating and set a $23.00 price objective for the company in a research note on Monday, June 30th. Bank of America lowered shares of Candel Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $13.00 to $7.00 in a research report on Wednesday, September 3rd. Finally, Brookline Capital Management upgraded shares of Candel Therapeutics to a “strong-buy” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $20.00.

Candel Therapeutics Trading Down 2.6%

Shares of Candel Therapeutics stock opened at $4.81 on Friday. Candel Therapeutics has a 12-month low of $3.79 and a 12-month high of $14.60. The company has a current ratio of 7.04, a quick ratio of 7.04 and a debt-to-equity ratio of 0.01. The stock has a market cap of $264.07 million, a PE ratio of -6.97 and a beta of -0.90. The company has a 50-day moving average of $5.90 and a two-hundred day moving average of $5.78.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.08. On average, research analysts anticipate that Candel Therapeutics will post -1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Candel Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Candel Therapeutics by 12.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,165 shares of the company’s stock worth $106,000 after buying an additional 1,340 shares during the period. Nuveen Asset Management LLC increased its stake in Candel Therapeutics by 3.0% during the 4th quarter. Nuveen Asset Management LLC now owns 68,226 shares of the company’s stock worth $592,000 after buying an additional 2,009 shares during the period. Corebridge Financial Inc. increased its stake in Candel Therapeutics by 29.4% during the 1st quarter. Corebridge Financial Inc. now owns 13,933 shares of the company’s stock worth $79,000 after buying an additional 3,163 shares during the period. BNP Paribas Financial Markets purchased a new stake in Candel Therapeutics during the 4th quarter worth $30,000. Finally, JPMorgan Chase & Co. increased its stake in Candel Therapeutics by 36.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock worth $99,000 after buying an additional 5,270 shares during the period. 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.