Candel Therapeutics, Inc. (NASDAQ:CADL) Stock Has Consensus Target Price of $20.14

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.14.

CADL has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating on shares of Candel Therapeutics in a report on Friday. Wall Street Zen cut Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. UBS Group restated a “buy” rating on shares of Candel Therapeutics in a research report on Monday, August 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Friday, July 17th. Finally, Bank of America upgraded Candel Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $12.00 to $18.00 in a report on Monday, September 21st.

Insider Activity at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $12.00, for a total value of $84,000.00. Following the sale, the chief technology officer directly owned 76,865 shares of the company’s stock, valued at $922,380. This represents a 8.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CADL. BlackRock Inc. bought a new position in shares of Candel Therapeutics during the second quarter valued at approximately $51,181,000. Bank of America Corp DE bought a new stake in shares of Candel Therapeutics in the 2nd quarter worth approximately $2,873,000. Wellington Management Group LLP bought a new stake in shares of Candel Therapeutics in the 2nd quarter worth approximately $2,119,000. Bank of New York Mellon Corp bought a new stake in shares of Candel Therapeutics in the 2nd quarter worth approximately $1,975,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Candel Therapeutics in the 1st quarter worth approximately $845,000. 13.93% of the stock is owned by hedge funds and other institutional investors.

Candel Therapeutics Trading Down 3.5%

NASDAQ:CADL opened at $9.87 on Friday. The company has a 50-day moving average price of $11.52 and a 200-day moving average price of $9.10. The stock has a market cap of $755.24 million, a price-to-earnings ratio of -7.00 and a beta of -0.32. The company has a current ratio of 16.09, a quick ratio of 16.09 and a debt-to-equity ratio of 0.38. Candel Therapeutics has a 12 month low of $4.35 and a 12 month high of $14.00.

Candel Therapeutics (NASDAQ:CADL) last released its quarterly 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 predict that Candel Therapeutics will post -1.29 EPS for the current year.

About Candel Therapeutics

Candel Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing biological immunotherapies designed to stimulate and strengthen the body’s immune response against cancer. The company’s approach uses engineered viruses intended to selectively target tumors and activate broader antitumor immunity.

Candel’s pipeline includes CAN-3110, an investigational oncolytic immunotherapy being developed for high-grade glioma, including recurrent glioblastoma. The company is also developing CAN-2409, a non-replicating adenovirus-based therapy designed to work with a prodrug to trigger localized cancer-cell destruction and immune activation.