Candel Therapeutics (NASDAQ:CADL) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Candel Therapeutics (NASDAQ:CADL) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also commented on the stock. Wall Street Zen lowered shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Lifesci Capital initiated coverage on shares of Candel Therapeutics in a report on Tuesday, October 21st. They issued an “outperform” rating and a $16.00 target price on the stock. Citigroup decreased their target price on Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, November 14th. HC Wainwright reiterated a “buy” rating and set a $23.00 price target on shares of Candel Therapeutics in a research report on Monday, September 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Candel Therapeutics has an average rating of “Moderate Buy” and an average price target of $18.33.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL opened at $6.30 on Monday. The company has a current ratio of 8.25, a quick ratio of 8.25 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $345.87 million, a price-to-earnings ratio of -11.05 and a beta of -0.93. Candel Therapeutics has a twelve month low of $4.25 and a twelve month high of $13.68. The business has a 50 day simple moving average of $5.45 and a 200-day simple moving average of $5.62.

Candel Therapeutics (NASDAQ:CADL) last announced 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). As a group, equities research analysts expect that Candel Therapeutics will post -1.47 earnings per share for the current year.

Hedge Funds Weigh In On Candel Therapeutics

Several large investors have recently made changes to their positions in the business. Millennium Management LLC acquired a new position in shares of Candel Therapeutics in the 3rd quarter worth approximately $697,000. Lido Advisors LLC acquired a new position in Candel Therapeutics in the third quarter worth approximately $307,000. BNP Paribas Financial Markets increased its holdings in shares of Candel Therapeutics by 128.2% in the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after buying an additional 4,439 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Candel Therapeutics by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after acquiring an additional 219,563 shares during the last quarter. Finally, Taylor Financial Group Inc. boosted its stake in shares of Candel Therapeutics by 36.0% during the 3rd quarter. Taylor Financial Group Inc. now owns 13,600 shares of the company’s stock worth $69,000 after acquiring an additional 3,600 shares in the last quarter. Institutional investors own 13.93% of the company’s stock.

About Candel Therapeutics

Candel Therapeutics (NASDAQ:CADL) is a clinical-stage immuno-oncology company focused on the development of next-generation oncolytic viral therapies designed to treat solid tumors. The company’s lead candidate, CAN-2409, is a locally administered, gene-delivered viral therapy engineered to selectively replicate in cancer cells and induce immunogenic cell death. Candel leverages proprietary virus engineering platforms to enhance tumor-specific replication and stimulate anti-tumor immune responses, aiming to improve outcomes for patients with high unmet medical needs.

In addition to its lead program, Candel’s pipeline includes CAN-3110, an oncolytic herpes simplex virus targeting recurrent high-grade glioma, and other novel viral constructs being explored for a variety of solid tumor indications.