Candel Therapeutics (NASDAQ:CADL) Trading 3.9% Higher – Should You Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL) traded up 3.9% on Wednesday . The stock traded as high as $5.99 and last traded at $5.85. 618,201 shares changed hands during trading, an increase of 8% from the average session volume of 571,522 shares. The stock had previously closed at $5.63.

Analyst Ratings Changes

A number of equities analysts have commented on CADL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Wednesday, January 21st. Wall Street Zen cut shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Stephens restated an “overweight” rating and issued a $15.00 price objective on shares of Candel Therapeutics in a research report on Monday, December 8th. Zacks Research downgraded shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Finally, Citigroup cut their price target 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Candel Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

Candel Therapeutics Stock Up 3.9%

The firm has a market capitalization of $321.17 million, a PE ratio of -10.26 and a beta of -0.94. 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 firm has a 50-day moving average of $5.85 and a two-hundred day moving average of $5.54.

Institutional Trading of Candel Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CADL. BNP Paribas Financial Markets lifted its holdings 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 in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Candel Therapeutics during the 4th quarter worth $51,000. Tower Research Capital LLC TRC lifted its holdings in Candel Therapeutics by 361.7% in 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 in the last quarter. Invesco Ltd. purchased a new position in Candel Therapeutics in the 1st quarter valued at about $59,000. Finally, ProShare Advisors LLC purchased a new position in Candel Therapeutics in the 4th quarter valued at about $59,000. Institutional investors and hedge funds 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.