Candel Therapeutics (NASDAQ:CADL) Issues Quarterly Earnings Results

Candel Therapeutics (NASDAQ:CADL) posted its earnings results on Thursday. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.17), Zacks reports.

Candel Therapeutics Stock Performance

Candel Therapeutics stock opened at $8.75 on Friday. Candel Therapeutics has a 1 year low of $1.34 and a 1 year high of $14.60. The firm has a 50 day moving average price of $8.21 and a 200 day moving average price of $6.94. The company has a market cap of $284.17 million, a price-to-earnings ratio of -5.06 and a beta of -1.29.

Insider Activity at Candel Therapeutics

In other Candel Therapeutics news, insider Francesca Barone sold 13,534 shares of Candel Therapeutics stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total transaction of $97,715.48. Following the transaction, the insider now directly owns 110,673 shares of the company’s stock, valued at $799,059.06. The trade was a 10.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Seshu Tyagarajan sold 14,322 shares of Candel Therapeutics stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total transaction of $103,404.84. Following the transaction, the chief technology officer now directly owns 96,790 shares in the company, valued at approximately $698,823.80. This trade represents a 12.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,529 shares of company stock worth $313,512. 41.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CADL shares. Bank of America started coverage on shares of Candel Therapeutics in a report on Friday, February 7th. They set a “buy” rating and a $15.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Candel Therapeutics in a report on Friday. Citigroup started coverage on shares of Candel Therapeutics in a report on Thursday, February 20th. They set a “buy” rating and a $25.00 price target for the company. Finally, Canaccord Genuity Group lifted their price target on shares of Candel Therapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.