Candel Therapeutics (NASDAQ:CADL) Reaches New 12-Month High – What’s Next?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $9.57 and last traded at $9.5360, with a volume of 425442 shares. The stock had previously closed at $9.27.

Analysts Set New Price Targets

CADL has been the topic of a number of recent research reports. Cantor Fitzgerald started coverage on Candel Therapeutics in a research report on Monday, April 20th. They issued an “overweight” rating on the stock. Citigroup reduced their price target on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 price target on shares of Candel Therapeutics in a research note on Friday, March 13th. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded Candel Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. Six investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.00.

Candel Therapeutics Stock Up 3.4%

The company has a market capitalization of $717.31 million, a price-to-earnings ratio of -9.99 and a beta of -0.49. The firm’s 50 day moving average price is $8.01 and its two-hundred day moving average price is $6.36. The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.16. Sell-side analysts anticipate that Candel Therapeutics, Inc. will post -0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Candel Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC acquired a new position in shares of Candel Therapeutics in the first quarter valued at $845,000. Renaissance Technologies LLC acquired a new stake in shares of Candel Therapeutics during the 1st quarter worth about $63,000. AlphaCentric Advisors LLC acquired a new stake in shares of Candel Therapeutics during the 1st quarter worth about $178,000. Bank of New York Mellon Corp boosted its holdings in shares of Candel Therapeutics by 43.1% during the 1st quarter. Bank of New York Mellon Corp now owns 136,266 shares of the company’s stock worth $668,000 after buying an additional 41,058 shares during the period. Finally, Halter Ferguson Financial Inc. boosted its holdings in shares of Candel Therapeutics by 20.9% during the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock worth $4,430,000 after buying an additional 155,996 shares during the period. 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.