Citigroup Has Lowered Expectations for Candel Therapeutics (NASDAQ:CADL) Stock Price

Candel Therapeutics (NASDAQ:CADL) had its price target decreased by equities research analysts at Citigroup from $24.00 to $22.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 371.09% from the company’s previous close.

A number of other research firms also recently issued reports on CADL. Wall Street Zen downgraded shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Wednesday, January 21st. Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Candel Therapeutics in a research note on Friday. Finally, Stephens reaffirmed an “overweight” rating and issued a $15.00 target price on shares of Candel Therapeutics in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Candel Therapeutics Stock Down 6.2%

CADL stock traded down $0.31 during trading on Friday, reaching $4.67. 1,358,546 shares of the stock were exchanged, compared to its average volume of 1,080,282. The firm’s 50 day moving average is $5.61 and its 200 day moving average is $5.44. The firm has a market cap of $256.37 million, a P/E ratio of -8.19 and a beta of -0.91. The company has a current ratio of 8.25, a quick ratio of 8.25 and a debt-to-equity ratio of 0.01. Candel Therapeutics has a twelve month low of $4.25 and a twelve month high of $9.08.

Candel Therapeutics (NASDAQ:CADL) last posted its earnings results on Thursday, March 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.30). As a group, research analysts forecast that Candel Therapeutics will post -1.47 EPS for the current year.

Insider Activity

In related news, Director Paul B. Manning purchased 550,458 shares of the firm’s stock in a transaction dated 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 purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.60% of the stock is currently owned by insiders.

Institutional Trading of Candel Therapeutics

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position 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 last quarter. Tower Research Capital LLC TRC increased its holdings 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 worth $49,000 after acquiring an additional 7,527 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Candel Therapeutics in the 4th quarter worth about $51,000. Invesco Ltd. bought a new stake in Candel Therapeutics in the 1st quarter valued at about $59,000. Finally, ProShare Advisors LLC bought a new stake in Candel Therapeutics in the 4th quarter valued at about $59,000. 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.