Candel Therapeutics (NASDAQ:CADL) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Candel Therapeutics (NASDAQ:CADL) released its quarterly earnings results on Thursday. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.16, FiscalAI reports.

Candel Therapeutics Trading Down 1.4%

Shares of NASDAQ CADL traded down $0.13 during mid-day trading on Thursday, hitting $8.82. The company’s stock had a trading volume of 2,488,945 shares, compared to its average volume of 1,393,590. The stock has a market cap of $645.88 million, a price-to-earnings ratio of -12.43 and a beta of -0.59. The company has a debt-to-equity ratio of 0.91, a current ratio of 13.49 and a quick ratio of 13.49. Candel Therapeutics has a one year low of $4.35 and a one year high of $9.27. The company’s fifty day simple moving average is $5.75 and its 200-day simple moving average is $5.57.

Insider Buying and Selling at Candel Therapeutics

In related news, Director Paul B. Manning purchased 550,458 shares of Candel Therapeutics stock in a transaction dated Monday, February 23rd. The shares were acquired at an average cost of $5.45 per share, for a total transaction of $2,999,996.10. Following the transaction, the director directly owned 2,763,527 shares of the company’s stock, valued at approximately $15,061,222.15. This trade represents a 24.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 14.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Candel Therapeutics

Several institutional investors have recently modified their holdings of CADL. XTX Topco Ltd acquired a new stake in Candel Therapeutics in the fourth quarter worth $134,000. Price T Rowe Associates Inc. MD increased its position in shares of Candel Therapeutics by 31.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,814 shares of the company’s stock worth $146,000 after acquiring an additional 6,176 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Candel Therapeutics by 25.5% during the fourth quarter. MetLife Investment Management LLC now owns 19,443 shares of the company’s stock worth $110,000 after acquiring an additional 3,955 shares during the period. LPL Financial LLC raised its holdings in shares of Candel Therapeutics by 33.9% during the fourth quarter. LPL Financial LLC now owns 28,653 shares of the company’s stock worth $162,000 after acquiring an additional 7,250 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Candel Therapeutics by 28.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,520 shares of the company’s stock valued at $109,000 after acquiring an additional 4,772 shares in the last quarter. 13.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 target price on shares of Candel Therapeutics in a research note on Friday, March 13th. Cantor Fitzgerald initiated coverage on Candel Therapeutics in a report on Monday, April 20th. They set an “overweight” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Monday, April 20th. Zacks Research lowered Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Finally, Citigroup decreased their price objective on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.00.

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.