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 report report published on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on CADL. Citigroup reduced their price target on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Weiss Ratings reaffirmed 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 price target on shares of Candel Therapeutics in a report on Monday, December 8th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $25.00 price objective on shares of Candel Therapeutics in a research report on Friday, March 13th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Candel Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Candel Therapeutics Stock Down 3.0%

CADL opened at $4.80 on Tuesday. The business’s fifty day moving average is $5.20 and its two-hundred day moving average is $5.39. The company has a debt-to-equity ratio of 0.91, a quick ratio of 13.49 and a current ratio of 13.49. The company has a market cap of $351.59 million, a price-to-earnings ratio of -6.76 and a beta of -0.81. Candel Therapeutics has a one year low of $4.34 and a one year high of $7.25.

Candel Therapeutics (NASDAQ:CADL) last posted its earnings results on Thursday, March 12th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). Analysts anticipate that Candel Therapeutics will post -1.47 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Candel Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CADL. BNP Paribas Financial Markets lifted its stake in shares of Candel Therapeutics by 128.2% during 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 during the period. Tower Research Capital LLC TRC lifted its stake in shares of Candel Therapeutics by 361.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock valued at $49,000 after buying an additional 7,527 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Candel Therapeutics during the fourth quarter valued at approximately $51,000. Invesco Ltd. purchased a new position in shares of Candel Therapeutics during the first quarter valued at approximately $59,000. Finally, ProShare Advisors LLC purchased a new position in shares of Candel Therapeutics during the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

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.