Candel Therapeutics (NASDAQ:CADL) Research Coverage Started at Lifesci Capital

Lifesci Capital began coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a research report sent to investors on Tuesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $16.00 price objective on the stock.

CADL has been the subject of a number of other reports. Brookline Capital Management raised Candel Therapeutics to a “strong-buy” rating in a research report on Wednesday, July 9th. Bank of America lowered Candel Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $13.00 to $7.00 in a research report on Wednesday, September 3rd. HC Wainwright reaffirmed a “buy” rating and set a $23.00 target price on shares of Candel Therapeutics in a research report 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Candel Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $19.20.

Candel Therapeutics Trading Up 1.0%

Shares of NASDAQ CADL opened at $5.31 on Tuesday. The company has a quick ratio of 7.04, a current ratio of 7.04 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $5.48 and a two-hundred day simple moving average of $5.49. The firm has a market cap of $291.49 million, a PE ratio of -7.70 and a beta of -0.94. Candel Therapeutics has a twelve month low of $3.79 and a twelve month high of $14.60.

Candel Therapeutics (NASDAQ:CADL) last issued its earnings results on Thursday, August 14th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. Analysts expect that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CADL. Tower Research Capital LLC TRC grew its stake in Candel Therapeutics by 361.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after buying an additional 7,527 shares during the last quarter. Taylor Financial Group Inc. purchased a new position in Candel Therapeutics during the 1st quarter worth $56,000. Private Advisor Group LLC purchased a new position in Candel Therapeutics during the 1st quarter worth $58,000. Invesco Ltd. purchased a new position in Candel Therapeutics during the 1st quarter worth $59,000. Finally, AlphaQuest LLC purchased a new position in Candel Therapeutics during the 1st quarter worth $61,000. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

About Candel Therapeutics

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.