Citigroup Has Lowered Expectations for Candel Therapeutics (NASDAQ:CADL) Stock Price

Candel Therapeutics (NASDAQ:CADL) had its price target cut by research analysts at Citigroup from $24.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 371.09% from the company’s previous close.

A number of other research firms have also issued reports on CADL. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Wall Street Zen lowered Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Wednesday, January 21st. Stephens reaffirmed an “overweight” rating and issued a $15.00 target price on shares of Candel Therapeutics in a research note on Monday, December 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price target on shares of Candel Therapeutics in a report on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Candel Therapeutics Stock Performance

CADL opened at $4.67 on Friday. Candel Therapeutics has a twelve month low of $4.25 and a twelve month high of $9.08. The firm has a market capitalization of $256.38 million, a PE ratio of -6.58 and a beta of -0.91. 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’s 50-day moving average price is $5.59 and its 200 day moving average price is $5.43.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). As a group, sell-side analysts expect that Candel Therapeutics will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Candel Therapeutics news, Director Paul B. Manning acquired 550,458 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average cost of $5.45 per share, for a total transaction of $2,999,996.10. Following the completion of the transaction, the director owned 2,763,527 shares of the company’s stock, valued at approximately $15,061,222.15. The trade was a 24.87% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acorn Capital Advisors LLC lifted its stake in shares of Candel Therapeutics by 19.9% in the 2nd quarter. Acorn Capital Advisors LLC now owns 2,580,517 shares of the company’s stock valued at $13,057,000 after purchasing an additional 428,265 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Candel Therapeutics during the 2nd quarter worth about $126,000. XTX Topco Ltd purchased a new stake in Candel Therapeutics in the 2nd quarter valued at about $378,000. ProShare Advisors LLC purchased a new stake in Candel Therapeutics in the 4th quarter valued at about $59,000. Finally, Halter Ferguson Financial Inc. lifted its position in Candel Therapeutics by 7.2% in the fourth quarter. Halter Ferguson Financial Inc. now owns 748,055 shares of the company’s stock valued at $4,227,000 after buying an additional 50,051 shares during the last quarter. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics News Roundup

Here are the key news stories impacting Candel Therapeutics this week:

• Positive Sentiment: Canaccord Genuity reaffirmed a “buy” rating and set a $25.00 price target (~435% upside vs. the current $4.67), supporting bullish sentiment and potential buying interest. Canaccord Genuity Buy Rating
• Positive Sentiment: Citigroup kept a “buy” rating while trimming its price target to $22.00 (still ~371% upside), which can lend confidence to momentum investors despite the lower PT. Citigroup Price Target Cut
• Positive Sentiment: Company update: Candel outlined progress advancing its lead cancer immunotherapy toward potential commercialization, announced planned Phase 3 trials and a regulatory filing timeline, and described actions to strengthen the balance sheet—news that supports long-term value drivers. Corporate Update & Balance Sheet
• Neutral Sentiment: Reported short-interest data in recent feeds shows zero shares and NaN changes (likely a reporting anomaly); this makes it hard to read short-seller pressure from public data today. (No reliable short-interest link available.)
• Negative Sentiment: Q4 earnings miss: Candel reported ($0.54) EPS vs. consensus ($0.24) loss, a material miss that likely triggered selling by near-term traders concerned about cash burn and near-term execution. Q4 Earnings Release
• Negative Sentiment: Debt covenant risk: An analyst note flagged restrictive covenants in the RTW purchase agreement that could limit financial flexibility and raise default risk—this increases investor concern about financing options and downside risk. RTW Covenant Risk Note

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.