Candel Therapeutics (NASDAQ:CADL) Releases Earnings Results, Beats Expectations By $0.06 EPS

Candel Therapeutics (NASDAQ:CADL) issued its quarterly earnings data on Thursday. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06, FiscalAI reports.

Candel Therapeutics Stock Down 9.0%

Shares of Candel Therapeutics stock traded down $0.83 during trading hours on Thursday, reaching $8.39. 1,636,044 shares of the company were exchanged, compared to its average volume of 1,423,935. The firm has a market cap of $641.99 million, a PE ratio of -5.95 and a beta of -0.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 16.09 and a current ratio of 16.09. Candel Therapeutics has a 1 year low of $4.35 and a 1 year high of $14.00. The stock’s fifty day moving average is $9.99 and its 200 day moving average is $8.38.

Insider Transactions at Candel Therapeutics

In related news, CTO Seshu Tyagarajan sold 7,000 shares of Candel Therapeutics stock in a transaction on Monday, August 17th. The stock was sold at an average price of $12.00, for a total value of $84,000.00. Following the completion of the transaction, the chief technology officer directly owned 76,865 shares in the company, valued at approximately $922,380. This trade represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 14.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CADL shares. Wall Street Zen downgraded Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. Jefferies Financial Group initiated coverage on Candel Therapeutics in a report on Thursday, October 22nd. They set a “buy” rating and a $25.00 target price for the company. HC Wainwright reaffirmed a “buy” rating on shares of Candel Therapeutics in a research report on Friday, October 2nd. UBS Group reiterated a “buy” rating on shares of Candel Therapeutics in a research note on Monday, August 17th. Finally, Zacks Research lowered shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. Nine research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.43.

About Candel Therapeutics

Candel Therapeutics is a clinical-stage biotechnology company developing viral immunotherapies designed to stimulate the immune system to fight cancer. Its approach uses engineered viruses to trigger immune responses against tumors. The company’s clinical-stage programs include CAN-2409, an adenovirus-based therapy being studied in several solid tumors, and CAN-3110, an oncolytic herpes simplex virus therapy being investigated for recurrent glioblastoma. Based in Needham, Massachusetts, Candel conducts clinical development of its therapies for cancer indications.