Candel Therapeutics (NASDAQ:CADL) Trading 8.6% Higher – Time to Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s stock price was up 8.6% on Monday . The stock traded as high as $9.07 and last traded at $9.0210. 745,019 shares were traded during trading, a decline of 52% from the average daily volume of 1,550,234 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

A number of analysts recently commented on CADL shares. Citigroup dropped their target price on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 price target on shares of Candel Therapeutics in a research report on Friday, March 13th. Cantor Fitzgerald assumed coverage on Candel Therapeutics in a report on Monday, April 20th. They issued an “overweight” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Candel Therapeutics Trading Up 1.0%

The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34. The stock has a market cap of $671.74 million, a price-to-earnings ratio of -9.33 and a beta of -0.49. The company has a fifty day simple moving average of $7.74 and a 200-day simple moving average of $6.28.

Candel Therapeutics (NASDAQ:CADL) last announced its earnings results on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.16. On average, research analysts forecast that Candel Therapeutics, Inc. will post -0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Candel Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CADL. Vanguard Group Inc. boosted its position in shares of Candel Therapeutics by 12.3% in the third quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock worth $10,236,000 after buying an additional 219,563 shares during the period. Geode Capital Management LLC raised its position in Candel Therapeutics by 31.5% during the second quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock valued at $4,575,000 after buying an additional 216,509 shares during the period. Janus Henderson Group PLC purchased a new stake in Candel Therapeutics in the 1st quarter worth about $845,000. Halter Ferguson Financial Inc. lifted its stake in Candel Therapeutics by 20.9% in the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock worth $4,430,000 after acquiring an additional 155,996 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Candel Therapeutics during the 3rd quarter worth about $697,000. Institutional investors and hedge funds own 13.93% of the company’s stock.

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.