Candel Therapeutics, Inc. (NASDAQ:CADL) Receives $18.00 Average Target Price from Brokerages

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $18.00.

A number of brokerages recently commented on CADL. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Wednesday, January 21st. Citigroup reduced their price objective on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Canaccord Genuity Group restated a “buy” rating and set a $25.00 target price on shares of Candel Therapeutics in a research report on Friday, March 13th. Finally, Stephens reaffirmed an “overweight” rating and issued a $15.00 price target on shares of Candel Therapeutics in a report on Monday, December 8th.

Candel Therapeutics Trading Up 1.2%

Shares of Candel Therapeutics stock opened at $4.97 on Wednesday. Candel Therapeutics has a 52-week low of $4.25 and a 52-week high of $8.69. The stock’s 50-day simple moving average is $5.54 and its 200 day simple moving average is $5.40. The stock has a market capitalization of $272.85 million, a P/E ratio of -7.00 and a beta of -0.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 13.49 and a current ratio of 13.49.

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

Insider Buying and Selling

In related news, Director Paul B. Manning bought 550,458 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was acquired at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the purchase, the director directly owned 2,763,527 shares in the company, valued at $15,061,222.15. This trade represents a 24.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Candel Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its position 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 acquiring an additional 4,439 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in Candel Therapeutics during the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC lifted its stake 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 purchasing an additional 7,527 shares in the last quarter. Invesco Ltd. purchased a new stake in Candel Therapeutics in the 1st quarter worth approximately $59,000. Finally, ProShare Advisors LLC bought a new position in Candel Therapeutics in the 4th quarter valued at $59,000. 13.93% of the stock is owned by hedge funds and other institutional investors.

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.