Candel Therapeutics (NASDAQ:CADL) Issues Quarterly Earnings Results, Misses Expectations By $0.30 EPS

Candel Therapeutics (NASDAQ:CADL) released its quarterly earnings results on Thursday. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30), FiscalAI reports.

Candel Therapeutics Trading Down 0.6%

CADL traded down $0.03 during trading on Thursday, hitting $5.07. 437,324 shares of the stock were exchanged, compared to its average volume of 1,055,736. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.25 and a current ratio of 8.25. The firm has a 50 day simple moving average of $5.62 and a 200 day simple moving average of $5.44. The firm has a market cap of $278.29 million, a price-to-earnings ratio of -8.83 and a beta of -0.91. Candel Therapeutics has a 1 year low of $4.25 and a 1 year high of $9.08.

Analysts Set New Price Targets

CADL has been the topic of a number of research reports. Citigroup dropped their price objective on shares of Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Stephens restated an “overweight” rating and issued a $15.00 price objective on shares of Candel Therapeutics in a research report on Monday, December 8th. Wall Street Zen lowered shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Insider Buying and Selling at Candel Therapeutics

In other news, Director Paul B. Manning purchased 550,458 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were acquired at an average price of $5.45 per share, with a total value of $2,999,996.10. Following the transaction, the director owned 2,763,527 shares of the company’s stock, valued at $15,061,222.15. This represents a 24.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Several hedge funds have recently modified their holdings of CADL. Vanguard Group Inc. lifted its stake in shares of Candel Therapeutics by 12.3% during 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 during the last quarter. Geode Capital Management LLC grew its stake in Candel Therapeutics by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 977,512 shares of the company’s stock valued at $5,524,000 after purchasing an additional 49,315 shares during the last quarter. State Street Corp raised its holdings in Candel Therapeutics by 15.0% in the fourth quarter. State Street Corp now owns 792,218 shares of the company’s stock worth $4,476,000 after purchasing an additional 103,452 shares in the last quarter. Millennium Management LLC bought a new position in Candel Therapeutics in the third quarter worth about $697,000. Finally, Wells Fargo & Company MN lifted its position in shares of Candel Therapeutics by 180.9% during the fourth quarter. Wells Fargo & Company MN now owns 73,899 shares of the company’s stock valued at $418,000 after buying an additional 47,588 shares during the last quarter. Hedge funds and other 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.