Candel Therapeutics (NASDAQ:CADL) Announces Quarterly Earnings Results

Candel Therapeutics (NASDAQ:CADL) issued its quarterly earnings data on Thursday. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28), FiscalAI reports.

Candel Therapeutics Stock Performance

Shares of NASDAQ:CADL traded down $0.08 on Friday, reaching $11.72. 2,066,615 shares of the company’s stock were exchanged, compared to its average volume of 1,177,523. Candel Therapeutics has a twelve month low of $4.35 and a twelve month high of $11.95. The company has a fifty day moving average of $9.68 and a 200-day moving average of $7.40. The company has a market capitalization of $858.72 million, a price-to-earnings ratio of -8.31 and a beta of -0.51. The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34.

Key Candel Therapeutics News

Here are the key news stories impacting Candel Therapeutics this week:

• Positive Sentiment: HC Wainwright reaffirmed its Buy rating and $23 price target, implying substantial potential upside from recent trading levels. The firm’s outlook reflects expectations for future earnings growth and progress in Candel’s pipeline. HC Wainwright reaffirms Buy rating and price target
• Positive Sentiment: Management highlighted “meaningful execution” toward a biologics license application (BLA) submission in the fourth quarter. Candel is targeting its first commercial product in 2027, making regulatory progress a key catalyst for the stock. CADL rises as biotech targets 2027 commercial launch
• Neutral Sentiment: Bank of America raised its price target from $9 to $12 but maintained a Neutral rating. The revised target is close to the recent share price, suggesting the analyst sees limited near-term upside despite the higher valuation estimate. Bank of America raises CADL price target
• Negative Sentiment: Candel reported a second-quarter loss of $0.52 per share, substantially worse than the $0.27 consensus estimate. The earnings miss highlights continued cash-burn and execution risk for the clinical-stage biotechnology company. Candel second-quarter earnings release
• Negative Sentiment: HC Wainwright modestly reduced its FY2028 and FY2029 EPS estimates to $0.69 and $1.41, respectively. Although the firm retained its Buy rating and $23 target, the estimate cuts indicate slightly lower expectations for Candel’s long-term profitability.

Insider Buying and Selling

In other news, insider Francesca Barone sold 23,447 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $10.06, for a total transaction of $235,876.82. Following the completion of the sale, the insider directly owned 77,362 shares in the company, valued at approximately $778,261.72. This represents a 23.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Seshu Tyagarajan sold 7,000 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $10.02, for a total value of $70,140.00. Following the sale, the chief technology officer owned 83,865 shares of the company’s stock, valued at approximately $840,327.30. The trade was a 7.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CADL. BNP Paribas Financial Markets lifted its position in Candel Therapeutics by 128.2% during the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock worth $40,000 after purchasing an additional 4,439 shares during the period. Tower Research Capital LLC TRC increased its holdings in Candel Therapeutics by 361.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock valued at $49,000 after buying an additional 7,527 shares during the period. Invesco Ltd. acquired a new position in shares of Candel Therapeutics in the 1st quarter valued at approximately $59,000. The Manufacturers Life Insurance Company acquired a new position in shares of Candel Therapeutics in the 2nd quarter valued at approximately $70,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Candel Therapeutics by 37.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company’s stock worth $95,000 after acquiring an additional 4,583 shares during the period. Institutional investors and hedge funds own 13.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Candel Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a report on Friday, July 17th. Cantor Fitzgerald began coverage on Candel Therapeutics in a research report on Monday, April 20th. They set an “overweight” rating on the stock. Finally, Stifel Nicolaus began coverage on Candel Therapeutics in a report on Monday, July 13th. They set a “buy” rating and a $22.00 target price for the company. Seven investment 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. Based on data from MarketBeat.com, Candel Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

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.