Candel Therapeutics, Inc. (NASDAQ:CADL) Given Average Rating of “Moderate Buy” by Analysts

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) have received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $19.2857.

Several equities research analysts have recently commented on CADL shares. Wall Street Zen cut shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating and issued a $23.00 price target on shares of Candel Therapeutics in a research note on Thursday, August 13th. Bank of America raised their price objective on shares of Candel Therapeutics from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Finally, UBS Group reaffirmed a “buy” rating on shares of Candel Therapeutics in a research report on Monday, August 17th.

Candel Therapeutics Price Performance

Shares of CADL stock opened at $11.12 on Wednesday. The firm has a market cap of $850.90 million, a P/E ratio of -7.89 and a beta of -0.48. Candel Therapeutics has a fifty-two week low of $4.35 and a fifty-two week high of $14.00. The business’s 50 day moving average price is $11.19 and its 200-day moving average price is $8.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 16.09 and a current ratio of 16.09.

Candel Therapeutics (NASDAQ:CADL) last announced its earnings results on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). On average, equities research analysts anticipate that Candel Therapeutics will post -1.29 earnings per share for the current year.

Insider Buying and Selling

In other Candel Therapeutics news, insider Francesca Barone sold 23,447 shares of the firm’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 transaction, the insider owned 77,362 shares of the company’s stock, valued at approximately $778,261.72. This trade represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $12.00, for a total value of $84,000.00. Following the transaction, the chief technology officer directly owned 76,865 shares of the company’s stock, valued at $922,380. This represents a 8.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 37,447 shares of company stock valued at $390,017. 14.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Candel Therapeutics during the second quarter valued at approximately $51,181,000. Halter Ferguson Financial Inc. boosted its position in shares of Candel Therapeutics by 20.9% in the 1st 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 in the last quarter. Bank of America Corp DE purchased a new stake in shares of Candel Therapeutics in the 2nd quarter worth approximately $2,873,000. Wellington Management Group LLP bought a new position in Candel Therapeutics during the 2nd quarter valued at approximately $2,119,000. Finally, Bank of New York Mellon Corp bought a new position in Candel Therapeutics during the 2nd quarter valued at approximately $1,975,000. 13.93% of the stock is owned by hedge funds and other institutional investors.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc is a clinical-stage biotechnology company developing multimodal biological immunotherapies designed to stimulate the immune system to recognize and attack cancer. The company focuses on engineered viruses administered directly into tumors, with the goal of creating a localized immune response that may also affect cancer cells elsewhere in the body.

Candel’s pipeline includes CAN-2409, an investigational, replication-defective adenovirus-based immunotherapy being studied in cancers including localized prostate cancer and non-small cell lung cancer.