Candel Therapeutics (NASDAQ:CADL) Trading 6.1% Higher – Time to Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s share price was up 6.1% during mid-day trading on Monday . The company traded as high as $6.92 and last traded at $6.8620. Approximately 206,896 shares were traded during trading, a decline of 84% from the average daily volume of 1,255,679 shares. The stock had previously closed at $6.47.

Analyst Ratings Changes

A number of equities analysts have issued reports on CADL shares. Cantor Fitzgerald started coverage on Candel Therapeutics in a report on Monday, April 20th. They set an “overweight” rating on the stock. Canaccord Genuity Group restated a “buy” rating and set a $25.00 price target on shares of Candel Therapeutics in a report on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Monday, April 20th. Zacks Research cut Candel Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Finally, Citigroup cut their price target on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.00.

Candel Therapeutics Trading Down 0.5%

The business has a fifty day moving average of $5.42 and a 200-day moving average of $5.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 13.49 and a current ratio of 13.49. The company has a market capitalization of $559.05 million, a P/E ratio of -10.75 and a beta of -0.59.

Candel Therapeutics (NASDAQ:CADL) last issued its earnings results on Thursday, March 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). Analysts anticipate that Candel Therapeutics, Inc. will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Paul B. Manning bought 550,458 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were bought at an average cost of $5.45 per share, for a total transaction of $2,999,996.10. Following the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Candel Therapeutics

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Candel Therapeutics by 36.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock valued at $99,000 after buying an additional 5,270 shares during the last quarter. Invesco Ltd. raised its position 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 during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Candel Therapeutics in the 2nd quarter valued at $70,000. Tower Research Capital LLC TRC raised its position in Candel Therapeutics by 361.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock valued at $49,000 after buying an additional 7,527 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Candel Therapeutics by 128.2% in 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 last quarter. 13.93% of the stock is currently owned by 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.