Candel Therapeutics (NASDAQ:CADL) Earns Buy Rating from Canaccord Genuity Group

Candel Therapeutics (NASDAQ:CADL)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity Group in a research report issued on Friday,Benzinga reports. They presently have a $25.00 price target on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 432.48% from the company’s previous close.

CADL has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Wednesday, January 21st. Stephens reiterated an “overweight” rating and set a $15.00 target price on shares of Candel Therapeutics in a report on Monday, December 8th. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday. Wall Street Zen lowered Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Citigroup lowered their price objective on Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.33.

Candel Therapeutics Stock Down 5.7%

CADL traded down $0.29 during trading on Friday, reaching $4.70. The stock had a trading volume of 1,040,777 shares, compared to its average volume of 1,078,199. The stock’s 50 day moving average is $5.61 and its two-hundred day moving average is $5.44. The company has a current ratio of 8.25, a quick ratio of 8.25 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $257.76 million, a price-to-earnings ratio of -8.24 and a beta of -0.91. Candel Therapeutics has a one year low of $4.25 and a one year high of $9.08.

Candel Therapeutics (NASDAQ:CADL) last released its earnings results on Thursday, March 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). As a group, analysts expect that Candel Therapeutics will post -1.47 earnings per share for the current year.

Insider Buying and Selling at Candel Therapeutics

In related news, Director Paul B. Manning acquired 550,458 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were bought at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the completion of the transaction, the director directly owned 2,763,527 shares in the company, valued at approximately $15,061,222.15. This trade represents a 24.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Candel Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CADL. BNP Paribas Financial Markets lifted its holdings 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 buying an additional 4,439 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of 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 acquiring an additional 7,527 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in Candel Therapeutics during the fourth quarter valued at $51,000. Invesco Ltd. bought a new position in Candel Therapeutics in the first quarter valued at about $59,000. Finally, ProShare Advisors LLC bought a new position in Candel Therapeutics in the fourth quarter valued at about $59,000. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

About Candel Therapeutics

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.