Candel Therapeutics (NASDAQ:CADL) Given New $24.00 Price Target at Citigroup

Candel Therapeutics (NASDAQ:CADL) had its price objective decreased by Citigroup from $25.00 to $24.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 416.13% from the stock’s previous close.

Several other analysts also recently issued reports on CADL. Lifesci Capital initiated coverage on Candel Therapeutics in a report on Tuesday, October 21st. They issued an “outperform” rating and a $16.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $23.00 price target on shares of Candel Therapeutics in a research report on Monday, September 29th. Wall Street Zen upgraded shares of Candel Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Bank of America lowered shares of Candel Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $7.00 in a research note on Wednesday, September 3rd. Finally, Stephens upgraded shares of Candel Therapeutics to a “strong-buy” rating in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on 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 Performance

CADL traded up $0.04 during trading on Friday, reaching $4.65. The company’s stock had a trading volume of 383,357 shares, compared to its average volume of 966,896. The company’s fifty day moving average price is $5.33 and its 200-day moving average price is $5.54. Candel Therapeutics has a 52-week low of $3.79 and a 52-week high of $14.60. The company has a market capitalization of $255.26 million, a price-to-earnings ratio of -6.76 and a beta of -0.94. 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 (NASDAQ:CADL) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). On average, equities analysts forecast that Candel Therapeutics will post -1.47 earnings per share for the current fiscal year.

Institutional Trading of Candel Therapeutics

Hedge funds have recently modified their holdings of the company. Acorn Capital Advisors LLC grew its holdings in 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 acquiring an additional 428,265 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Candel Therapeutics by 12.3% during the third quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock worth $10,236,000 after acquiring an additional 219,563 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Candel Therapeutics by 31.5% during the second quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock valued at $4,575,000 after acquiring an additional 216,509 shares during the period. Tanager Wealth Management LLP acquired a new position in Candel Therapeutics during the 2nd quarter valued at about $995,000. Finally, Halter Ferguson Financial Inc. boosted its stake in shares of Candel Therapeutics by 12.0% in the 2nd quarter. Halter Ferguson Financial Inc. now owns 776,516 shares of the company’s stock valued at $3,929,000 after purchasing an additional 83,363 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

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.