Candel Therapeutics (NASDAQ:CADL) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Candel Therapeutics (NASDAQ:CADL) from a hold rating to a strong sell rating in a research note published on Tuesday morning,Zacks.com reports.

Several other research firms also recently weighed in on CADL. Stephens reaffirmed an “overweight” rating and issued a $15.00 price target on shares of Candel Therapeutics in a research note on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Wednesday, January 21st. Citigroup reduced their price target on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price target on shares of Candel Therapeutics in a research report on Friday, March 13th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.00.

Candel Therapeutics Stock Performance

CADL opened at $4.95 on Tuesday. Candel Therapeutics has a 1-year low of $4.25 and a 1-year high of $7.25. The company has a current ratio of 13.49, a quick ratio of 13.49 and a debt-to-equity ratio of 0.91. The company has a market cap of $362.59 million, a P/E ratio of -6.97 and a beta of -0.81. The company has a fifty day moving average price of $5.22 and a two-hundred day moving average price of $5.40.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.30). Analysts predict that Candel Therapeutics will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling at Candel Therapeutics

In other Candel Therapeutics news, Director Paul B. Manning acquired 550,458 shares of the company’s stock in a transaction 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 completion of the purchase, the director owned 2,763,527 shares of the company’s stock, valued at approximately $15,061,222.15. This represents a 24.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CADL. BNP Paribas Financial Markets lifted its stake in shares of Candel Therapeutics by 128.2% in the third 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 in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Candel Therapeutics by 361.7% during 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 position in Candel Therapeutics during the 4th quarter worth $51,000. Invesco Ltd. purchased a new position in Candel Therapeutics during the 1st quarter worth $59,000. Finally, ProShare Advisors LLC purchased a new position in Candel Therapeutics during the 4th quarter worth $59,000. 13.93% of the stock is 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.