Candel Therapeutics (NASDAQ:CADL) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Candel Therapeutics (NASDAQ:CADL) from a hold rating to a sell rating in a research report released on Sunday.

Several other equities analysts have also issued reports on the company. Bank of America lifted their target price on Candel Therapeutics from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Stifel Nicolaus initiated coverage on shares of Candel Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $22.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Candel Therapeutics in a research report on Monday, April 20th. They issued an “overweight” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Friday, July 17th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Candel Therapeutics Stock Down 0.9%

Shares of NASDAQ CADL opened at $12.05 on Friday. The company has a current ratio of 16.09, a quick ratio of 16.09 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $922.05 million, a PE ratio of -8.55 and a beta of -0.51. The stock’s fifty day simple moving average is $9.82 and its two-hundred day simple moving average is $7.50. Candel Therapeutics has a 12-month low of $4.35 and a 12-month high of $12.48.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). As a group, analysts expect that Candel Therapeutics will post -1.3 EPS for the current fiscal year.

Insider Buying and Selling at Candel Therapeutics

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

Hedge Funds Weigh In On Candel Therapeutics

Several hedge funds have recently modified their holdings of CADL. Invesco Ltd. acquired a new stake in Candel Therapeutics in the 1st quarter worth approximately $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 purchasing an additional 4,583 shares during the last quarter. Rhumbline Advisers increased its stake in Candel Therapeutics by 26.8% during the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock valued at $188,000 after purchasing an additional 7,030 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 worth $4,575,000 after buying an additional 216,509 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Candel Therapeutics by 36.9% during the second quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock worth $99,000 after buying an additional 5,270 shares during the period. Institutional investors and hedge funds own 13.93% of the company’s stock.

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.