Analysts Set Candel Therapeutics, Inc. (NASDAQ:CADL) Price Target at $18.00

Candel Therapeutics, Inc. (NASDAQ:CADL) has received a consensus rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $18.00.

A number of analysts have recently weighed in on CADL shares. Citigroup reduced their target price on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price target on shares of Candel Therapeutics in a research note on Friday, March 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Monday, April 20th. Zacks Research cut shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Finally, Cantor Fitzgerald began coverage on shares of Candel Therapeutics in a research note on Monday, April 20th. They issued an “overweight” rating on the stock.

Candel Therapeutics Stock Up 2.5%

NASDAQ:CADL opened at $8.94 on Thursday. The firm’s 50-day moving average price is $5.75 and its 200-day moving average price is $5.57. The company has a market capitalization of $655.03 million, a PE ratio of -12.59 and a beta of -0.59. The company has a debt-to-equity ratio of 0.91, a current ratio of 13.49 and a quick ratio of 13.49. Candel Therapeutics has a 1-year low of $4.35 and a 1-year high of $9.26.

Candel Therapeutics (NASDAQ:CADL) last released its earnings results on Thursday, March 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). On average, equities analysts predict that Candel Therapeutics will post -0.94 EPS for the current fiscal year.

Insider Transactions at Candel Therapeutics

In other news, Director Paul B. Manning purchased 550,458 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were bought at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the purchase, the director directly owned 2,763,527 shares in the company, valued at approximately $15,061,222.15. This trade represents a 24.87% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 14.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Candel Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its stake in Candel Therapeutics by 4.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,517 shares of the company’s stock worth $240,000 after purchasing an additional 2,000 shares in the last quarter. Invesco Ltd. boosted its stake in Candel Therapeutics by 29.0% in the 4th quarter. Invesco Ltd. now owns 15,039 shares of the company’s stock worth $85,000 after purchasing an additional 3,380 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Candel Therapeutics by 12.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company’s stock worth $149,000 after purchasing an additional 3,400 shares in the last quarter. Taylor Financial Group Inc. lifted its stake in Candel Therapeutics by 36.0% during the 3rd quarter. Taylor Financial Group Inc. now owns 13,600 shares of the company’s stock valued at $69,000 after acquiring an additional 3,600 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in Candel Therapeutics by 25.5% during the 4th quarter. MetLife Investment Management LLC now owns 19,443 shares of the company’s stock valued at $110,000 after acquiring an additional 3,955 shares during the period. Institutional investors own 13.93% of the company’s stock.

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.