Candel Therapeutics (NASDAQ:CADL) Stock Price Up 8.6% – Should You Buy?

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) shot up 8.6% during trading on Monday . The stock traded as high as $9.07 and last traded at $9.0210. 745,019 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 1,550,234 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Cantor Fitzgerald started coverage on Candel Therapeutics in a report on Monday, April 20th. They issued an “overweight” rating for the company. Citigroup decreased their price objective on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Monday, April 20th. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 target price on shares of Candel Therapeutics in a research note on Friday, March 13th. Finally, Wall Street Zen upgraded Candel Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Candel Therapeutics Stock Performance

The stock has a market cap of $672.62 million, a PE ratio of -9.38 and a beta of -0.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 28.05 and a quick ratio of 28.05. The stock has a 50-day simple moving average of $7.57 and a 200-day simple moving average of $6.22.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.16. Equities analysts predict that Candel Therapeutics, Inc. will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CADL. Invesco Ltd. acquired a new position in Candel Therapeutics during the first quarter valued at approximately $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Candel Therapeutics by 37.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company’s stock valued at $95,000 after acquiring an additional 4,583 shares during the period. Rhumbline Advisers raised its stake in shares of Candel Therapeutics by 26.8% in the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock valued at $188,000 after acquiring an additional 7,030 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Candel Therapeutics by 31.5% during the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock valued at $4,575,000 after acquiring an additional 216,509 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Candel Therapeutics by 36.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock valued at $99,000 after acquiring an additional 5,270 shares in the last quarter. Hedge funds and other institutional investors own 13.93% of the company’s stock.

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.