Analysts Set Candel Therapeutics, Inc. (NASDAQ:CADL) Target Price at $18.57

Candel Therapeutics, Inc. (NASDAQ:CADL) has earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $18.5714.

Several brokerages recently weighed in on CADL. Cantor Fitzgerald initiated coverage on Candel Therapeutics in a report on Monday, April 20th. They set an “overweight” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday, July 17th. Stifel Nicolaus began coverage on shares of Candel Therapeutics in a research report on Monday, July 13th. They set a “buy” rating and a $22.00 price target for the company. Wall Street Zen lowered shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Finally, Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th.

Insider Activity

In related news, insider Francesca Barone sold 23,447 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.06, for a total transaction of $235,876.82. Following the transaction, the insider owned 77,362 shares in the company, valued at $778,261.72. The trade was a 23.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief technology officer directly owned 83,865 shares of the company’s stock, valued at $840,327.30. The trade was a 7.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.30% of the stock is owned by company insiders.

Institutional Trading of Candel Therapeutics

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in shares of Candel Therapeutics by 128.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after purchasing an additional 4,439 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Candel Therapeutics by 361.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after buying an additional 7,527 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Candel Therapeutics in the fourth quarter worth about $51,000. ProShare Advisors LLC purchased a new stake in Candel Therapeutics in the fourth quarter worth about $59,000. Finally, Invesco Ltd. bought a new stake in Candel Therapeutics during the 1st quarter valued at approximately $59,000. Institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Trading Up 4.2%

Shares of CADL opened at $9.96 on Tuesday. The firm has a market cap of $729.77 million, a price-to-earnings ratio of -10.16 and a beta of -0.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 28.05 and a current ratio of 28.05. Candel Therapeutics has a fifty-two week low of $4.35 and a fifty-two week high of $11.36. The firm has a 50 day moving average price of $9.05 and a 200-day moving average price of $6.97.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.16. As a group, equities research analysts forecast that Candel Therapeutics will post -0.91 earnings per share for the current year.

Candel Therapeutics Company Profile

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.