Candel Therapeutics (NASDAQ:CADL) Hits New 52-Week High – Should You Buy?

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $8.70 and last traded at $9.00, with a volume of 200243 shares traded. The stock had previously closed at $8.35.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Zacks Research lowered shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 target price on shares of Candel Therapeutics in a research note on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Monday, April 20th. Finally, Cantor Fitzgerald assumed coverage on shares of Candel Therapeutics in a research note on Monday, April 20th. They set an “overweight” rating on the stock. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.00.

Candel Therapeutics Stock Performance

The firm has a market capitalization of $638.91 million, a PE ratio of -12.28 and a beta of -0.59. The firm’s 50 day moving average price is $5.68 and its 200-day moving average price is $5.55. The company has a debt-to-equity ratio of 0.91, a quick ratio of 13.49 and a current ratio of 13.49.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly 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). On average, research analysts expect that Candel Therapeutics, Inc. will post -0.94 EPS for the current year.

Insiders Place Their Bets

In related news, Director Paul B. Manning purchased 550,458 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average cost of $5.45 per share, with a total value of $2,999,996.10. Following the purchase, the director owned 2,763,527 shares of the company’s stock, valued at $15,061,222.15. This represents a 24.87% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC lifted its stake in Candel Therapeutics by 4.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,517 shares of the company’s stock valued at $240,000 after buying an additional 2,000 shares in the last quarter. Invesco Ltd. lifted its stake in Candel Therapeutics by 29.0% in the 4th quarter. Invesco Ltd. now owns 15,039 shares of the company’s stock valued at $85,000 after buying an additional 3,380 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Candel Therapeutics by 12.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company’s stock valued at $149,000 after buying an additional 3,400 shares in the last quarter. Taylor Financial Group Inc. lifted its stake in Candel Therapeutics by 36.0% in the 3rd quarter. Taylor Financial Group Inc. now owns 13,600 shares of the company’s stock valued at $69,000 after buying an additional 3,600 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Candel Therapeutics by 25.5% in the 4th quarter. MetLife Investment Management LLC now owns 19,443 shares of the company’s stock valued at $110,000 after acquiring an additional 3,955 shares during the last quarter. 13.93% of the stock is owned by hedge funds and other institutional investors.

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.