Candel Therapeutics (NASDAQ:CADL) Announces Earnings Results

Candel Therapeutics (NASDAQ:CADL) released its quarterly earnings data on Thursday. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.30), FiscalAI reports.

Candel Therapeutics Stock Down 1.3%

CADL traded down $0.07 during mid-day trading on Thursday, reaching $5.03. 485,579 shares of the stock were exchanged, compared to its average volume of 1,057,969. Candel Therapeutics has a 1 year low of $4.25 and a 1 year high of $9.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.25 and a current ratio of 8.25. The stock has a market capitalization of $276.37 million, a PE ratio of -8.83 and a beta of -0.91. The company has a 50 day moving average price of $5.62 and a two-hundred day moving average price of $5.44.

Insider Activity at Candel Therapeutics

In other news, Director Paul B. Manning bought 550,458 shares of the stock in a transaction dated Monday, February 23rd. The stock was bought at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the completion of the acquisition, the director directly owned 2,763,527 shares in the company, valued at approximately $15,061,222.15. This trade represents a 24.87% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in shares of 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 purchasing an additional 4,439 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Candel Therapeutics by 361.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after purchasing an additional 7,527 shares during the period. Invesco Ltd. purchased a new position in Candel Therapeutics in the first quarter valued at approximately $59,000. The Manufacturers Life Insurance Company bought a new position in Candel Therapeutics during the second quarter valued at $70,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Candel Therapeutics by 37.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company’s stock valued at $95,000 after purchasing an additional 4,583 shares during the period. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Stephens restated an “overweight” rating and issued a $15.00 target price on shares of Candel Therapeutics in a report on Monday, December 8th. Citigroup dropped their price target on shares of Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

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.