Candel Therapeutics (NASDAQ:CADL) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $25.00 price objective on the stock.

A number of other brokerages have also recently commented on CADL. Zacks Research cut shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 14th. UBS Group reiterated a “buy” rating on shares of Candel Therapeutics in a research note on Monday, August 17th. Bank of America upgraded Candel Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $12.00 to $18.00 in a research note on Monday, September 21st. Wall Street Zen cut Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. Finally, Stifel Nicolaus initiated coverage on Candel Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $22.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Candel Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

Candel Therapeutics Price Performance

NASDAQ CADL opened at $8.38 on Thursday. Candel Therapeutics has a 52 week low of $4.35 and a 52 week high of $14.00. The firm has a market capitalization of $641.24 million, a P/E ratio of -5.94 and a beta of -0.32. 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 50-day moving average price of $11.18 and a 200-day moving average price of $9.44.

Candel Therapeutics (NASDAQ:CADL) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.28). Equities research analysts anticipate that Candel Therapeutics will post -1.29 earnings per share for the current year.

Insider Transactions at Candel Therapeutics

In related news, CTO Seshu Tyagarajan sold 7,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $12.00, for a total value of $84,000.00. Following the completion of the sale, the chief technology officer directly owned 76,865 shares of the company’s stock, valued at approximately $922,380. This represents a 8.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On Candel Therapeutics

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Candel Therapeutics in the second quarter worth approximately $51,181,000. Halter Ferguson Financial Inc. raised its position 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 valued at $4,430,000 after purchasing an additional 155,996 shares during the period. Bank of America Corp DE bought a new stake in shares of Candel Therapeutics during the 2nd quarter valued at $2,873,000. Wellington Management Group LLP bought a new stake in shares of Candel Therapeutics during the 2nd quarter valued at $2,119,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Candel Therapeutics during the 2nd quarter valued at $1,975,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc is a clinical-stage biopharmaceutical company developing biological immunotherapies designed to stimulate the immune system to recognize and attack cancer. The company’s approach uses engineered viral therapies intended to promote immunogenic cell death and generate broader, potentially systemic antitumor immune responses.

Candel’s pipeline includes CAN-3110, an investigational oncolytic immunotherapy based on a genetically engineered herpes simplex virus type 1.