Candel Therapeutics, Inc. (NASDAQ:CADL) Receives Consensus Rating of “Moderate Buy” from Brokerages

Candel Therapeutics, Inc. (NASDAQ:CADL) has been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $18.50.

Several research analysts recently commented on the company. Bank of America lowered Candel Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $13.00 to $7.00 in a research report on Wednesday, September 3rd. Wall Street Zen upgraded Candel Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Stephens upgraded Candel Therapeutics to a “strong-buy” rating in a report on Tuesday, October 28th. Lifesci Capital began coverage on Candel Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $16.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Wednesday, October 8th.

Candel Therapeutics Trading Down 2.0%

Shares of CADL opened at $4.92 on Thursday. The stock has a market capitalization of $270.11 million, a PE ratio of -7.13 and a beta of -0.94. The company’s fifty day moving average is $5.33 and its 200 day moving average is $5.54. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.04 and a current ratio of 7.04. Candel Therapeutics has a fifty-two week low of $3.79 and a fifty-two week high of $14.60.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CADL. Halter Ferguson Financial Inc. lifted its stake in shares of Candel Therapeutics by 12.0% during the 2nd quarter. Halter Ferguson Financial Inc. now owns 776,516 shares of the company’s stock worth $3,929,000 after acquiring an additional 83,363 shares during the last quarter. Acorn Capital Advisors LLC lifted its position in shares of Candel Therapeutics by 11.0% during the first quarter. Acorn Capital Advisors LLC now owns 2,152,252 shares of the company’s stock worth $12,160,000 after purchasing an additional 212,608 shares during the last quarter. Nuveen LLC bought a new stake in shares of Candel Therapeutics during the first quarter worth $442,000. Tanager Wealth Management LLP purchased a new stake in shares of Candel Therapeutics during the second quarter valued at $995,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Candel Therapeutics by 29.4% in the second quarter. Janney Montgomery Scott LLC now owns 27,290 shares of the company’s stock worth $138,000 after purchasing an additional 6,200 shares during the last quarter. Hedge funds and other 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.