Candel Therapeutics’ (CADL) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Candel Therapeutics (NASDAQ:CADL) in a report issued on Monday morning,Benzinga reports. HC Wainwright currently has a $23.00 price target on the stock.

Other equities analysts have also issued reports about the company. Brookline Capital Management upgraded Candel Therapeutics to a “strong-buy” rating in a research note on Wednesday, July 9th. Bank of America lowered Candel Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $7.00 in a report on Wednesday, September 3rd. Finally, Wall Street Zen upgraded Candel Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Candel Therapeutics Price Performance

NASDAQ CADL opened at $5.54 on Monday. Candel Therapeutics has a 1 year low of $3.79 and a 1 year high of $14.60. The company has a fifty day simple moving average of $5.69 and a 200 day simple moving average of $5.62. The company has a current ratio of 7.04, a quick ratio of 7.04 and a debt-to-equity ratio of 0.01. The company has a market cap of $304.15 million, a P/E ratio of -8.03 and a beta of -0.94.

Candel Therapeutics (NASDAQ:CADL) last posted its earnings results on Thursday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. On average, sell-side analysts predict that Candel Therapeutics will post -1.47 EPS for the current year.

Institutional Trading of Candel Therapeutics

A number of hedge funds have recently modified their holdings of CADL. Acorn Capital Advisors LLC grew its holdings in shares of Candel Therapeutics by 19.9% during the 2nd quarter. Acorn Capital Advisors LLC now owns 2,580,517 shares of the company’s stock worth $13,057,000 after purchasing an additional 428,265 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Candel Therapeutics by 31.5% in the second quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock valued at $4,575,000 after purchasing an additional 216,509 shares in the last quarter. Halter Ferguson Financial Inc. lifted its position in Candel Therapeutics by 12.0% in the second quarter. Halter Ferguson Financial Inc. now owns 776,516 shares of the company’s stock worth $3,929,000 after purchasing an additional 83,363 shares during the period. Tanager Wealth Management LLP acquired a new stake in Candel Therapeutics during the second quarter worth $995,000. Finally, HB Wealth Management LLC boosted its stake in Candel Therapeutics by 8.0% during the first quarter. HB Wealth Management LLC now owns 94,300 shares of the company’s stock worth $533,000 after buying an additional 7,000 shares in the last quarter. Institutional investors own 13.93% of the company’s stock.

About Candel Therapeutics

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.