Candel Therapeutics (NASDAQ:CADL) Upgraded at Zacks Research

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

Several other brokerages also recently commented on CADL. Citigroup reduced 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. Stephens restated an “overweight” rating and issued a $15.00 price target on shares of Candel Therapeutics in a research note on Monday, December 8th. Wall Street Zen downgraded Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Candel Therapeutics Trading Down 0.2%

Candel Therapeutics stock opened at $5.10 on Monday. The stock has a 50-day simple moving average of $5.62 and a 200 day simple moving average of $5.44. The stock has a market capitalization of $279.99 million, a P/E ratio of -8.95 and a beta of -0.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.25 and a current ratio of 8.25. Candel Therapeutics has a 52 week low of $4.25 and a 52 week high of $9.08.

Insiders Place Their Bets

In other Candel Therapeutics news, Director Paul B. Manning acquired 550,458 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was purchased at an average price of $5.45 per share, with a total value of $2,999,996.10. Following the acquisition, the director directly owned 2,763,527 shares of the company’s stock, valued at approximately $15,061,222.15. This trade represents a 24.87% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Candel Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acorn Capital Advisors LLC boosted its stake in shares of Candel Therapeutics by 19.9% in the second quarter. Acorn Capital Advisors LLC now owns 2,580,517 shares of the company’s stock valued at $13,057,000 after buying an additional 428,265 shares during the period. Los Angeles Capital Management LLC bought a new position in Candel Therapeutics during the 2nd quarter worth $126,000. XTX Topco Ltd acquired a new position in Candel Therapeutics in the 2nd quarter valued at $378,000. The Manufacturers Life Insurance Company acquired a new position in Candel Therapeutics in the 2nd quarter valued at $70,000. Finally, Invesco Ltd. bought a new stake in shares of Candel Therapeutics during the 1st quarter valued at $59,000. 13.93% of the stock is currently owned by institutional investors and hedge funds.

Candel Therapeutics Company Profile

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.