Candel Therapeutics (NASDAQ:CADL) Trading Up 3.9% – Here’s Why

Candel Therapeutics, Inc. (NASDAQ:CADL) shares shot up 3.9% during trading on Wednesday . The company traded as high as $5.99 and last traded at $5.85. 618,201 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 571,522 shares. The stock had previously closed at $5.63.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CADL. Wall Street Zen lowered Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a report on Wednesday, January 21st. Zacks Research cut shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Stephens reiterated an “overweight” rating and set a $15.00 price target on shares of Candel Therapeutics in a research report on Monday, December 8th. Finally, Citigroup reduced their target price on shares of Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.33.

Candel Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 8.25 and a quick ratio of 8.25. The stock has a market capitalization of $321.17 million, a price-to-earnings ratio of -10.26 and a beta of -0.94. The stock’s 50 day simple moving average is $5.85 and its 200-day simple moving average is $5.54.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Acorn Capital Advisors LLC lifted its position in Candel Therapeutics by 19.9% during the 2nd quarter. Acorn Capital Advisors LLC now owns 2,580,517 shares of the company’s stock worth $13,057,000 after acquiring an additional 428,265 shares during the last quarter. Vanguard Group Inc. grew its holdings in Candel Therapeutics by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after buying an additional 219,563 shares during the last quarter. Geode Capital Management LLC increased its position in Candel Therapeutics by 31.5% in the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock worth $4,575,000 after buying an additional 216,509 shares during the period. Millennium Management LLC acquired a new position in shares of Candel Therapeutics during the third quarter worth approximately $697,000. Finally, State Street Corp boosted its position in shares of Candel Therapeutics by 15.0% in the fourth quarter. State Street Corp now owns 792,218 shares of the company’s stock valued at $4,476,000 after acquiring an additional 103,452 shares during the period. Institutional investors own 13.93% of the company’s stock.

About Candel Therapeutics

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.