Candel Therapeutics (NASDAQ:CADL) Downgraded by Wall Street Zen to Sell

Candel Therapeutics (NASDAQ:CADL) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other equities analysts have also issued reports on CADL. Cantor Fitzgerald initiated coverage on Candel Therapeutics in a research report on Monday, April 20th. They issued an “overweight” rating for the company. Stifel Nicolaus initiated coverage on shares of Candel Therapeutics in a research note on Monday, July 13th. They issued a “buy” rating and a $22.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Monday, April 20th. Finally, Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.57.

Candel Therapeutics Trading Up 7.4%

NASDAQ CADL opened at $10.18 on Friday. Candel Therapeutics has a 12 month low of $4.35 and a 12 month high of $11.36. The stock has a 50-day simple moving average of $8.91 and a 200 day simple moving average of $6.78. The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $745.89 million, a PE ratio of -10.39 and a beta of -0.52.

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

Insider Transactions at Candel Therapeutics

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

Hedge Funds Weigh In On Candel Therapeutics

Several hedge funds have recently made changes to their positions in CADL. Invesco Ltd. acquired a new stake in shares of Candel Therapeutics in the first quarter valued at approximately $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Candel Therapeutics by 37.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company’s stock worth $95,000 after purchasing an additional 4,583 shares in the last quarter. Rhumbline Advisers boosted its holdings in Candel Therapeutics by 26.8% during the first quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock worth $188,000 after purchasing an additional 7,030 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Candel Therapeutics by 31.5% during the second quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock worth $4,575,000 after purchasing an additional 216,509 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Candel Therapeutics by 36.9% in the second quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock valued at $99,000 after purchasing an additional 5,270 shares in the last quarter. 13.93% of the stock is owned by 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.