Candel Therapeutics (NASDAQ:CADL) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Candel Therapeutics (NASDAQ:CADL) from a strong sell rating to a hold rating in a research note issued to investors on Saturday.

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

Candel Therapeutics Stock Down 1.6%

Shares of NASDAQ:CADL opened at $8.77 on Friday. Candel Therapeutics has a 12 month low of $4.35 and a 12 month high of $9.27. The company’s 50-day moving average price is $5.91 and its two-hundred day moving average price is $5.62. The company has a quick ratio of 13.49, a current ratio of 13.49 and a debt-to-equity ratio of 0.91. The firm has a market cap of $642.58 million, a P/E ratio of -8.95 and a beta of -0.59.

Candel Therapeutics (NASDAQ:CADL) last announced its earnings results on Thursday, May 14th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.16. As a group, research analysts forecast that Candel Therapeutics will post -0.94 EPS for the current fiscal year.

Insider Activity at Candel Therapeutics

In other Candel Therapeutics news, Director Paul B. Manning bought 550,458 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was bought at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the transaction, the director owned 2,763,527 shares of the company’s stock, valued at approximately $15,061,222.15. The trade was a 24.87% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On Candel Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in shares of Candel Therapeutics during the 1st quarter worth about $63,000. AlphaCentric Advisors LLC bought a new stake in shares of Candel Therapeutics in the 1st quarter valued at about $178,000. Bank of New York Mellon Corp boosted its stake in Candel Therapeutics by 43.1% during the 1st quarter. Bank of New York Mellon Corp now owns 136,266 shares of the company’s stock worth $668,000 after acquiring an additional 41,058 shares during the last quarter. Halter Ferguson Financial Inc. boosted its stake in Candel Therapeutics by 20.9% during the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock worth $4,430,000 after acquiring an additional 155,996 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in Candel Therapeutics by 15.3% during the 1st quarter. HB Wealth Management LLC now owns 67,245 shares of the company’s stock worth $330,000 after acquiring an additional 8,900 shares during the last quarter. 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.