Candel Therapeutics (NASDAQ:CADL) Stock Price Up 6.7% – Still a Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s stock price was up 6.7% on Wednesday . The stock traded as high as $9.03 and last traded at $8.9850. Approximately 1,426,340 shares traded hands during trading, a decline of 3% from the average daily volume of 1,466,508 shares. The stock had previously closed at $8.42.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CADL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a report on Monday, April 20th. Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. Citigroup decreased their price objective on 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 raised Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of Candel Therapeutics in a research note on Friday, March 13th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Candel Therapeutics Stock Performance

The stock has a 50 day moving average price of $6.57 and a two-hundred day moving average price of $5.84. The company has a quick ratio of 28.05, a current ratio of 28.05 and a debt-to-equity ratio of 0.34. The company has a market cap of $657.09 million, a P/E ratio of -9.17 and a beta of -0.49.

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 predict that Candel Therapeutics, Inc. will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Candel Therapeutics by 12.3% during the third quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after buying an additional 219,563 shares during the period. Geode Capital Management LLC boosted its position in Candel Therapeutics by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 977,512 shares of the company’s stock valued at $5,524,000 after buying an additional 49,315 shares during the period. Halter Ferguson Financial Inc. boosted its position in Candel Therapeutics by 20.9% during the first quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock valued at $4,430,000 after buying an additional 155,996 shares during the period. State Street Corp boosted its position in Candel Therapeutics by 15.0% during the fourth quarter. State Street Corp now owns 792,218 shares of the company’s stock valued at $4,476,000 after buying an additional 103,452 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in Candel Therapeutics during the first quarter valued at about $845,000. Institutional investors 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.