Candel Therapeutics (NASDAQ:CADL) Issues Earnings Results, Beats Expectations By $0.16 EPS

Candel Therapeutics (NASDAQ:CADL) issued its earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.16, FiscalAI reports.

Candel Therapeutics Trading Down 1.6%

Shares of NASDAQ CADL traded down $0.14 during trading on Friday, hitting $8.77. 3,637,121 shares of the company traded hands, compared to its average volume of 2,461,356. The firm has a market capitalization of $642.58 million, a P/E ratio of -8.95 and a beta of -0.59. The company has a quick ratio of 13.49, a current ratio of 13.49 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average price of $5.91 and a 200-day moving average price of $5.62. Candel Therapeutics has a 1 year low of $4.35 and a 1 year high of $9.27.

Insider Buying and Selling at Candel Therapeutics

In other news, Director Paul B. Manning acquired 550,458 shares of Candel Therapeutics stock in a transaction dated Monday, February 23rd. The shares were acquired at an average cost of $5.45 per share, with a total value of $2,999,996.10. Following the purchase, the director directly owned 2,763,527 shares of the company’s stock, valued at approximately $15,061,222.15. This trade represents a 24.87% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 14.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in Candel Therapeutics by 36.9% during the second quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock worth $99,000 after buying an additional 5,270 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Candel Therapeutics by 28.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,520 shares of the company’s stock valued at $109,000 after acquiring an additional 4,772 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Candel Therapeutics by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after acquiring an additional 219,563 shares in the last quarter. Geode Capital Management LLC boosted its position in Candel Therapeutics by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 977,512 shares of the company’s stock worth $5,524,000 after purchasing an additional 49,315 shares during the period. Finally, State Street Corp increased its holdings in Candel Therapeutics by 15.0% in the 4th quarter. State Street Corp now owns 792,218 shares of the company’s stock valued at $4,476,000 after purchasing an additional 103,452 shares in the last quarter. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Zacks Research lowered Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Candel Therapeutics in a research note on Friday, March 13th. Wall Street Zen raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday. Cantor Fitzgerald assumed coverage on shares of Candel Therapeutics in a report on Monday, April 20th. They issued an “overweight” rating on the stock. Finally, Citigroup lowered their price target on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a report on Friday, March 13th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Candel Therapeutics currently has an average rating of “Hold” and an average target price of $18.00.

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.