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

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

A number of other analysts have also recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Candel Therapeutics in a research report on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday, July 17th. Stifel Nicolaus started coverage on Candel Therapeutics in a report on Monday, July 13th. They set a “buy” rating and a $22.00 price target for the company. Cantor Fitzgerald assumed coverage on shares of Candel Therapeutics in a research report on Monday, April 20th. They set an “overweight” rating for the company. Finally, Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.57.

Candel Therapeutics Stock Performance

Shares of CADL stock opened at $10.50 on Friday. The stock has a market cap of $769.34 million, a P/E ratio of -10.71 and a beta of -0.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 28.05 and a quick ratio of 28.05. The company has a fifty day moving average price of $9.48 and a two-hundred day moving average price of $7.27. Candel Therapeutics has a one year low of $4.35 and a one year high of $11.36.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.16. As a group, equities analysts predict that Candel Therapeutics will post -0.91 EPS for the current year.

Insider Buying and Selling

In related news, insider Francesca Barone sold 23,447 shares of Candel Therapeutics stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $10.06, for a total transaction of $235,876.82. Following the completion of the sale, the insider directly owned 77,362 shares of the company’s stock, valued at approximately $778,261.72. This trade represents a 23.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Seshu Tyagarajan sold 7,000 shares of Candel Therapeutics stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $10.02, for a total value of $70,140.00. Following the sale, the chief technology officer directly owned 83,865 shares of the company’s stock, valued at approximately $840,327.30. The trade was a 7.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Candel Therapeutics in the second quarter valued at about $51,181,000. Vanguard Group Inc. raised its stake in Candel Therapeutics by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock worth $10,236,000 after purchasing an additional 219,563 shares in the last quarter. Geode Capital Management LLC raised its stake in Candel Therapeutics by 31.5% in the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock worth $4,575,000 after purchasing an additional 216,509 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Candel Therapeutics in the 2nd quarter valued at about $1,975,000. Finally, Janus Henderson Group PLC bought a new stake in Candel Therapeutics in the 1st quarter valued at about $845,000. Institutional investors own 13.93% of the company’s stock.

About Candel Therapeutics

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.