Candel Therapeutics (NASDAQ:CADL) Reaches New 12-Month High – Time to Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL) shares hit a new 52-week high on Wednesday . The company traded as high as $11.36 and last traded at $10.30, with a volume of 2941846 shares. The stock had previously closed at $10.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup cut 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. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 target price on shares of Candel Therapeutics in a research report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Monday, April 20th. Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Candel Therapeutics Price Performance

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 stock has a market cap of $754.68 million, a P/E ratio of -10.51 and a beta of -0.49. The firm’s fifty day moving average price is $8.19 and its 200-day moving average price is $6.43.

Candel Therapeutics (NASDAQ:CADL) last issued its earnings results on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.16. Analysts forecast that Candel Therapeutics, Inc. will post -0.97 earnings per share for the current year.

Institutional Trading of Candel Therapeutics

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Candel Therapeutics by 12.3% in the third 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 holdings in Candel Therapeutics by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 977,512 shares of the company’s stock worth $5,524,000 after buying an additional 49,315 shares during the period. Halter Ferguson Financial Inc. lifted its holdings in Candel Therapeutics by 20.9% in the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock worth $4,430,000 after buying an additional 155,996 shares during the period. State Street Corp grew its position in shares of Candel Therapeutics by 15.0% in the 4th quarter. State Street Corp now owns 792,218 shares of the company’s stock worth $4,476,000 after buying an additional 103,452 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Candel Therapeutics in the 1st quarter worth approximately $845,000. 13.93% of the stock is currently 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.