Candel Therapeutics (NASDAQ:CADL) Stock Price Up 6.7% – Still a Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL) shares rose 6.7% during mid-day trading on Wednesday . The stock traded as high as $9.03 and last traded at $8.9850. Approximately 1,426,340 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 1,466,508 shares. The stock had previously closed at $8.42.

Analysts Set New Price Targets

CADL has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Monday, April 20th. Citigroup cut their price target on shares of Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a report on Friday, March 13th. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price target on shares of Candel Therapeutics in a report on Friday, March 13th. Wall Street Zen raised shares of Candel Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. Finally, Cantor Fitzgerald assumed coverage on shares of Candel Therapeutics in a report on Monday, April 20th. They issued an “overweight” rating for the company. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Candel Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Candel Therapeutics Price Performance

The firm has a market cap of $657.09 million, a PE ratio of -9.17 and a beta of -0.49. The stock’s fifty day moving average price is $6.57 and its 200-day moving average price is $5.84. The company has a debt-to-equity ratio of 0.34, a current ratio of 28.05 and a quick ratio of 28.05.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.16. As a group, equities analysts expect that Candel Therapeutics, Inc. will post -0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Candel Therapeutics

Several hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Candel Therapeutics by 37.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company’s stock valued at $95,000 after buying an additional 4,583 shares during the last quarter. Invesco Ltd. acquired a new stake in Candel Therapeutics in the 1st quarter valued at approximately $59,000. Renaissance Technologies LLC acquired a new stake in Candel Therapeutics in the 1st quarter valued at approximately $63,000. Janus Henderson Group PLC acquired a new stake in Candel Therapeutics in the 1st quarter valued at approximately $845,000. Finally, AlphaCentric Advisors LLC acquired a new stake in Candel Therapeutics in the 1st quarter valued at approximately $178,000. 13.93% of the stock is owned by hedge funds and other institutional investors.

About Candel Therapeutics

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.