Candel Therapeutics (NASDAQ:CADL) Sets New 1-Year High – Still a Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $11.45 and last traded at $11.1760, with a volume of 635969 shares changing hands. The stock had previously closed at $10.68.

Analysts Set New Price Targets

CADL has been the topic of several recent analyst reports. Zacks Research raised shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Candel Therapeutics in a report on Thursday. Stifel Nicolaus assumed coverage on shares of Candel Therapeutics in a research note on Monday, July 13th. They issued a “buy” rating and a $22.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Friday, July 17th. Finally, Wall Street Zen raised shares of Candel Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.57.

Candel Therapeutics Price Performance

The firm has a fifty day moving average price of $9.57 and a two-hundred day moving average price of $7.33. The stock has a market capitalization of $823.19 million, a P/E ratio of -11.41 and a beta of -0.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 28.05 and a current ratio of 28.05.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.30). As a group, analysts expect that Candel Therapeutics, Inc. will post -0.91 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Candel Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CADL. Moneta Group Investment Advisors LLC increased its holdings in Candel Therapeutics by 4.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,517 shares of the company’s stock worth $240,000 after acquiring an additional 2,000 shares in the last quarter. Invesco Ltd. lifted its holdings in Candel Therapeutics by 29.0% during the fourth quarter. Invesco Ltd. now owns 15,039 shares of the company’s stock valued at $85,000 after purchasing an additional 3,380 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Candel Therapeutics by 12.6% in the first quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company’s stock worth $149,000 after purchasing an additional 3,400 shares during the period. MetLife Investment Management LLC boosted its position in shares of Candel Therapeutics by 25.5% in the fourth quarter. MetLife Investment Management LLC now owns 19,443 shares of the company’s stock worth $110,000 after purchasing an additional 3,955 shares during the period. Finally, BNP Paribas Financial Markets increased 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 worth $40,000 after purchasing an additional 4,439 shares in the last quarter. 13.93% of the stock is currently owned by hedge funds and other 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.