Candel Therapeutics (NASDAQ:CADL) Releases Earnings Results, Beats Estimates By $0.16 EPS

Candel Therapeutics (NASDAQ:CADL) posted its quarterly earnings data on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.16, FiscalAI reports.

Candel Therapeutics Stock Performance

Candel Therapeutics stock traded down $0.13 during trading hours on Thursday, hitting $8.82. The company had a trading volume of 2,488,945 shares, compared to its average volume of 1,393,590. The firm has a 50-day moving average of $5.75 and a 200 day moving average of $5.57. The company has a debt-to-equity ratio of 0.91, a current ratio of 13.49 and a quick ratio of 13.49. The firm has a market cap of $645.88 million, a PE ratio of -12.43 and a beta of -0.59. Candel Therapeutics has a one year low of $4.35 and a one year high of $9.27.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CADL shares. Citigroup decreased their price target on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Candel Therapeutics in a research report on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Monday, April 20th. Cantor Fitzgerald started coverage on Candel Therapeutics in a report on Monday, April 20th. They issued an “overweight” rating for the company. Finally, Zacks Research downgraded shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.00.

Insiders Place Their Bets

In other news, Director Paul B. Manning purchased 550,458 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was acquired at an average cost of $5.45 per share, with a total value of $2,999,996.10. Following the acquisition, the director owned 2,763,527 shares in the company, valued at approximately $15,061,222.15. This trade represents a 24.87% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. 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 valued at $10,236,000 after acquiring an additional 219,563 shares during the period. Geode Capital Management LLC increased 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 worth $4,575,000 after acquiring an additional 216,509 shares during the period. Millennium Management LLC acquired a new stake in Candel Therapeutics in the 3rd quarter worth about $697,000. State Street Corp boosted its holdings in Candel Therapeutics by 15.0% in the 4th quarter. State Street Corp now owns 792,218 shares of the company’s stock valued at $4,476,000 after purchasing an additional 103,452 shares during the period. Finally, Lido Advisors LLC bought a new stake in Candel Therapeutics in the 3rd quarter valued at about $307,000. Institutional investors and hedge funds 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.