Candel Therapeutics (NASDAQ:CADL) Issues Earnings Results

Candel Therapeutics (NASDAQ:CADL) posted its earnings results on Thursday. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04), FiscalAI reports.

Candel Therapeutics Trading Up 0.7%

Shares of NASDAQ CADL traded up $0.03 during midday trading on Friday, reaching $4.64. The stock had a trading volume of 554,145 shares, compared to its average volume of 658,620. The company’s 50 day moving average price is $5.32 and its 200 day moving average price is $5.53. 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 has a twelve month low of $3.79 and a twelve month high of $14.60. The firm has a market cap of $254.74 million, a price-to-earnings ratio of -8.14 and a beta of -0.94.

Institutional Trading of Candel Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Invesco Ltd. acquired a new position in shares of Candel Therapeutics in the 1st quarter valued at about $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Candel Therapeutics by 37.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company’s stock worth $95,000 after purchasing an additional 4,583 shares in the last quarter. Rhumbline Advisers lifted its stake in Candel Therapeutics by 26.8% in the first quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock valued at $188,000 after buying an additional 7,030 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Candel Therapeutics by 31.5% during the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock worth $4,575,000 after buying an additional 216,509 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Candel Therapeutics by 36.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,533 shares of the company’s stock worth $99,000 after buying an additional 5,270 shares in the last quarter. Institutional investors own 13.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a report on Wednesday, October 8th. Stephens upgraded Candel Therapeutics to a “strong-buy” rating in a report on Tuesday, October 28th. Citigroup dropped their price objective on shares of Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Friday. Bank of America downgraded shares of Candel Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $7.00 in a research report on Wednesday, September 3rd. Finally, Lifesci Capital assumed coverage on shares of Candel Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $16.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.33.

About Candel Therapeutics

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.