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

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $18.5714.

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

Insider Transactions at Candel Therapeutics

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC acquired a new position in shares of Candel Therapeutics during the 1st quarter worth approximately $845,000. Renaissance Technologies LLC acquired a new stake in Candel Therapeutics during the 1st quarter valued at $63,000. AlphaCentric Advisors LLC acquired a new stake in Candel Therapeutics during the 1st quarter valued at $178,000. Bank of New York Mellon Corp boosted its position in Candel Therapeutics by 43.1% during the first quarter. Bank of New York Mellon Corp now owns 136,266 shares of the company’s stock worth $668,000 after purchasing an additional 41,058 shares during the period. Finally, Halter Ferguson Financial Inc. boosted its position in Candel Therapeutics by 20.9% during the first quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock worth $4,430,000 after purchasing an additional 155,996 shares during the period. 13.93% of the stock is currently owned by institutional investors.

Candel Therapeutics Stock Performance

Shares of CADL opened at $9.56 on Tuesday. The stock has a market capitalization of $700.46 million, a price-to-earnings ratio of -9.76 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 firm has a fifty day simple moving average of $9.01 and a 200 day simple moving average of $6.93. The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly 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. Research analysts forecast that Candel Therapeutics will post -0.91 EPS for the current fiscal year.

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.