Brokerages Set Candel Therapeutics, Inc. (NASDAQ:CADL) PT at $18.57

Candel Therapeutics, Inc. (NASDAQ:CADL) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.5714.

Several research analysts have recently commented on CADL shares. Cantor Fitzgerald started coverage on Candel Therapeutics in a report on Monday, April 20th. They issued an “overweight” rating on the stock. Stifel Nicolaus began coverage on Candel Therapeutics in a report on Monday, July 13th. They set a “buy” rating and a $22.00 price target for the company. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday, July 17th. Finally, Wall Street Zen cut Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, July 18th.

Insider Transactions at Candel Therapeutics

In other Candel Therapeutics news, insider Francesca Barone sold 23,447 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $10.06, for a total value of $235,876.82. Following the completion of the sale, the insider owned 77,362 shares in the company, valued at approximately $778,261.72. This trade represents a 23.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Seshu Tyagarajan sold 7,000 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.02, for a total transaction of $70,140.00. Following the completion of the transaction, the chief technology officer directly owned 83,865 shares of the company’s stock, valued at approximately $840,327.30. This represents a 7.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.30% of the company’s stock.

Institutional Trading of Candel Therapeutics

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in shares of Candel Therapeutics by 128.2% in the 3rd 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. China Universal Asset Management Co. Ltd. bought a new position in shares of Candel Therapeutics in the 4th quarter valued at about $51,000. Tower Research Capital LLC TRC grew its position in shares of Candel Therapeutics by 361.7% during 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 during the period. Invesco Ltd. acquired a new stake in shares of Candel Therapeutics during the 1st quarter worth approximately $59,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Candel Therapeutics during the 4th quarter worth approximately $59,000. 13.93% of the stock is owned by institutional investors.

Candel Therapeutics Trading Down 2.3%

Shares of CADL stock opened at $9.86 on Tuesday. The company has a market capitalization of $722.44 million, a P/E ratio of -10.06 and a beta of -0.52. Candel Therapeutics has a 12-month low of $4.35 and a 12-month high of $11.36. The company has a quick ratio of 28.05, a current ratio of 28.05 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $9.00 and a 200 day moving average price of $6.91.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.16. Research analysts forecast that Candel Therapeutics will post -0.91 earnings per share for the current fiscal year.

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.