Candel Therapeutics (NASDAQ:CADL) Reaches New 1-Year High – Time to Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $12.69 and last traded at $12.6940, with a volume of 167235 shares traded. The stock had previously closed at $12.05.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $23.00 target price on shares of Candel Therapeutics in a research note on Thursday, August 13th. Wall Street Zen lowered Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. UBS Group reaffirmed a “buy” rating on shares of Candel Therapeutics in a report on Monday. Bank of America raised their price objective on Candel Therapeutics from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Finally, Stifel Nicolaus started coverage on shares of Candel Therapeutics in a research note on Monday, July 13th. They issued a “buy” rating and a $22.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Candel Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Candel Therapeutics Stock Performance

The stock has a fifty day simple moving average of $10.01 and a 200-day simple moving average of $7.60. The company has a quick ratio of 16.09, a current ratio of 16.09 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $945.02 million, a P/E ratio of -8.76 and a beta of -0.51.

Candel Therapeutics (NASDAQ:CADL) last announced its earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). Equities analysts forecast that Candel Therapeutics, Inc. will post -1.3 EPS for the current year.

Insider Buying and Selling

In other news, insider Francesca Barone sold 23,447 shares of Candel Therapeutics stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $10.06, for a total value of $235,876.82. Following the completion of the transaction, the insider owned 77,362 shares in the company, valued at approximately $778,261.72. The trade was a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,447 shares of company stock valued at $390,017 in the last quarter. 14.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Candel Therapeutics

Large investors have recently made changes to their positions in the business. Legal & General Group Plc acquired a new stake in shares of Candel Therapeutics in the second quarter valued at $63,000. BNP Paribas Financial Markets lifted its position in Candel Therapeutics by 128.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock worth $40,000 after buying an additional 4,439 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in Candel Therapeutics during the 4th quarter worth about $51,000. Tower Research Capital LLC TRC grew its holdings in Candel Therapeutics by 361.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after acquiring an additional 7,527 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in Candel Therapeutics during the 1st quarter worth about $59,000. 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.