Candel Therapeutics (NASDAQ:CADL) Shares Down 4.3% – What’s Next?

Candel Therapeutics, Inc. (NASDAQ:CADL) was down 4.3% during trading on Tuesday. The stock traded as low as $10.80 and last traded at $10.7120. 200,078 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,480,229 shares. The stock had previously closed at $11.19.

Analyst Ratings Changes

A number of brokerages recently weighed in on CADL. Bank of America upgraded shares of Candel Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $18.00 in a report on Monday, September 21st. UBS Group reissued a “buy” rating on shares of Candel Therapeutics in a research report on Monday, August 17th. Stifel Nicolaus started coverage on shares of Candel Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $22.00 target price on the stock. Wall Street Zen downgraded shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.14.

Candel Therapeutics Trading Down 4.9%

The company has a market cap of $814.33 million, a price-to-earnings ratio of -7.54 and a beta of -0.48. The company has a current ratio of 16.09, a quick ratio of 16.09 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average price is $11.47 and its 200-day moving average price is $8.87.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.28). On average, equities analysts anticipate that Candel Therapeutics, Inc. will post -1.29 EPS for the current fiscal year.

Insider Transactions at Candel Therapeutics

In related news, CTO Seshu Tyagarajan sold 7,000 shares of the business’s 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 sale, the chief technology officer directly owned 76,865 shares in the company, valued at $922,380. The trade was a 8.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 14.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Candel Therapeutics

A number of institutional investors have recently modified their holdings of CADL. ProShare Advisors LLC acquired a new stake in Candel Therapeutics in the 4th quarter worth about $59,000. Renaissance Technologies LLC bought a new position in shares of Candel Therapeutics during the first quarter worth approximately $63,000. Legal & General Group Plc acquired a new stake in shares of Candel Therapeutics in the second quarter valued at approximately $63,000. Janney Montgomery Scott LLC boosted its stake 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 valued at $149,000 after buying an additional 3,400 shares during the period. Finally, Krilogy Financial LLC boosted its stake in shares of Candel Therapeutics by 25.3% in the first quarter. Krilogy Financial LLC now owns 30,065 shares of the company’s stock valued at $155,000 after buying an additional 6,065 shares during the period. Institutional investors own 13.93% of the company’s stock.

About Candel Therapeutics

Candel Therapeutics, Inc is a clinical-stage biotechnology company developing multimodal biological immunotherapies designed to stimulate the immune system to recognize and attack cancer. The company focuses on engineered viruses administered directly into tumors, with the goal of creating a localized immune response that may also affect cancer cells elsewhere in the body.

Candel’s pipeline includes CAN-2409, an investigational, replication-defective adenovirus-based immunotherapy being studied in cancers including localized prostate cancer and non-small cell lung cancer.