Stephens Reiterates Overweight Rating for Candel Therapeutics (NASDAQ:CADL)

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “overweight” rating reiterated by investment analysts at Stephens in a note issued to investors on Monday,Benzinga reports. They currently have a $15.00 target price on the stock. Stephens’ price objective would indicate a potential upside of 165.02% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Lifesci Capital started coverage on Candel Therapeutics in a research report on Tuesday, October 21st. They set an “outperform” rating and a $16.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price objective on shares of Candel Therapeutics in a report on Monday, September 29th. Citigroup reduced their target price on Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Friday, November 14th. Finally, Wall Street Zen lowered shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.33.

Candel Therapeutics Stock Performance

Shares of CADL opened at $5.66 on Monday. Candel Therapeutics has a 1 year low of $4.25 and a 1 year high of $14.60. The stock has a market capitalization of $310.73 million, a P/E ratio of -9.93 and a beta of -0.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.25 and a current ratio of 8.25. The company’s fifty day moving average is $5.22 and its two-hundred day moving average is $5.50.

Candel Therapeutics (NASDAQ:CADL) last issued its earnings results on Thursday, November 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). On average, sell-side analysts predict that Candel Therapeutics will post -1.47 earnings per share for the current year.

Hedge Funds Weigh In On Candel Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CADL. Acorn Capital Advisors LLC grew its position 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 purchasing an additional 428,265 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Candel Therapeutics by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock worth $10,236,000 after purchasing an additional 219,563 shares during the last quarter. Geode Capital Management LLC lifted its stake in Candel Therapeutics by 31.5% in the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock valued at $4,575,000 after buying an additional 216,509 shares in the last quarter. Halter Ferguson Financial Inc. grew its holdings in Candel Therapeutics by 12.0% during the 2nd quarter. Halter Ferguson Financial Inc. now owns 776,516 shares of the company’s stock valued at $3,929,000 after buying an additional 83,363 shares during the last quarter. Finally, Tanager Wealth Management LLP acquired a new stake in Candel Therapeutics during the 2nd quarter valued at $995,000. Institutional investors and hedge funds own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.