Brokerages Set Candel Therapeutics, Inc. (NASDAQ:CADL) Target Price at $18.50

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) have received an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $18.3333.

CADL has been the subject of a number of research reports. Stephens raised shares of Candel Therapeutics to a “strong-buy” rating in a report on Tuesday, October 28th. Citigroup dropped their price objective on shares of Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday. Lifesci Capital started coverage on shares of Candel Therapeutics in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $16.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $23.00 target price on shares of Candel Therapeutics in a report on Monday, September 29th. Finally, Bank of America cut Candel Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the company from $13.00 to $7.00 in a report on Wednesday, September 3rd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its position in shares of Candel Therapeutics by 128.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after acquiring an additional 4,439 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Candel Therapeutics by 361.7% during the second 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 period. Taylor Financial Group Inc. purchased a new position in Candel Therapeutics during the first quarter worth about $56,000. Private Advisor Group LLC acquired a new stake in shares of Candel Therapeutics during the first quarter valued at about $58,000. Finally, Invesco Ltd. purchased a new stake in shares of Candel Therapeutics in the 1st quarter valued at approximately $59,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Stock Up 0.7%

CADL stock opened at $4.64 on Thursday. Candel Therapeutics has a 52 week low of $3.79 and a 52 week high of $14.60. 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 firm has a 50-day simple moving average of $5.32 and a 200-day simple moving average of $5.54. The stock has a market capitalization of $254.74 million, a P/E ratio of -8.14 and a beta of -0.94.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Equities analysts forecast that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.

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.