Candel Therapeutics (NASDAQ:CADL) Announces Earnings Results

Candel Therapeutics (NASDAQ:CADL) issued its quarterly earnings results on Friday. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06, FiscalAI reports.

Candel Therapeutics Trading Down 26.1%

Shares of NASDAQ:CADL traded down $2.19 during midday trading on Friday, reaching $6.20. The company had a trading volume of 6,615,131 shares, compared to its average volume of 1,165,069. The company has a debt-to-equity ratio of 0.38, a quick ratio of 16.09 and a current ratio of 16.09. Candel Therapeutics has a 1-year low of $4.35 and a 1-year high of $14.00. The firm has a market cap of $474.42 million, a price-to-earnings ratio of -4.19 and a beta of -0.27. The company has a fifty day simple moving average of $9.75 and a two-hundred day simple moving average of $8.39.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CADL. Bank of America raised shares of Candel Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $18.00 in a research note on Monday, September 21st. HC Wainwright cut their target price on shares of Candel Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Friday. UBS Group restated a “buy” rating on shares of Candel Therapeutics in a report on Monday, August 17th. Zacks Research lowered shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. Finally, Stifel Nicolaus dropped their price target on Candel Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Friday. Nine analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.57.

More Candel Therapeutics News

Here’s some of the latest news about CADL:

• Negative Sentiment: The company now expects to submit its biologics license application for aglatimagene in mid-2027. The delay followed FDA discussions and pushed back a key potential catalyst, prompting sharp selling. Mid-2027 BLA plan
• Negative Sentiment: Reports also cited a wider operating loss, adding to concerns as investors reassess the company’s timeline and financial outlook. Operating loss and FDA discussion
• Negative Sentiment: Law firm Block & Leviton announced an investigation into whether Candel misled investors. The announcement describes an investigation, not a finding of wrongdoing. Securities investigation announcement

Insiders Place Their Bets

In other Candel Therapeutics news, CTO Seshu Tyagarajan sold 7,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $12.00, for a total transaction of $84,000.00. Following the sale, the chief technology officer owned 76,865 shares in the company, valued at approximately $922,380. The trade was a 8.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 14.30% of the company’s stock.

Candel Therapeutics Company Profile

Candel Therapeutics is a clinical-stage biotechnology company developing viral immunotherapies designed to stimulate the immune system to fight cancer. Its approach uses engineered viruses to trigger immune responses against tumors. The company’s clinical-stage programs include CAN-2409, an adenovirus-based therapy being studied in several solid tumors, and CAN-3110, an oncolytic herpes simplex virus therapy being investigated for recurrent glioblastoma. Based in Needham, Massachusetts, Candel conducts clinical development of its therapies for cancer indications.