Candel Therapeutics (NASDAQ:CADL) Stock Price Up 7.8% – What’s Next?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s share price rose 7.8% during mid-day trading on Tuesday . The company traded as high as $11.09 and last traded at $11.1660. 738,155 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 1,576,893 shares. The stock had previously closed at $10.36.

Analysts Set New Price Targets

A number of research firms have commented on CADL. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. Cantor Fitzgerald assumed coverage on Candel Therapeutics in a research note on Monday, April 20th. They set an “overweight” rating on the stock. Canaccord Genuity Group restated a “buy” rating and set a $25.00 target price on shares of Candel Therapeutics in a report on Friday, March 13th. Finally, Citigroup dropped their target price on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Candel Therapeutics Price Performance

The stock has a fifty day simple moving average of $8.11 and a 200-day simple moving average of $6.40. The company has a market capitalization of $800.18 million, a PE ratio of -11.20 and a beta of -0.49. 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 earnings results on Thursday, May 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.16. Equities analysts anticipate that Candel Therapeutics, Inc. will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On Candel Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Candel Therapeutics by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after purchasing an additional 219,563 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Candel Therapeutics by 5.3% during the fourth 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 last quarter. Halter Ferguson Financial Inc. lifted its holdings in shares of 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. State Street Corp lifted its holdings in shares of Candel Therapeutics by 15.0% during the fourth quarter. State Street Corp now owns 792,218 shares of the company’s stock worth $4,476,000 after purchasing an additional 103,452 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in Candel Therapeutics in the 1st quarter valued at $845,000. 13.93% of the stock is owned by hedge funds and other institutional investors.

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.