Candel Therapeutics (NASDAQ:CADL) Trading 8.1% Higher – Still a Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL) shares rose 8.1% during trading on Friday . The company traded as high as $9.85 and last traded at $10.2450. 196,488 shares were traded during trading, a decline of 87% from the average daily volume of 1,570,099 shares. The stock had previously closed at $9.48.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CADL shares. Zacks Research raised Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Cantor Fitzgerald started coverage on Candel Therapeutics in a research note on Monday, April 20th. They set an “overweight” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Monday, April 20th. Stifel Nicolaus started coverage on Candel Therapeutics in a research note on Monday. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Candel Therapeutics has an average rating of “Moderate Buy” and an average target price of $18.57.

Candel Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 28.05 and a quick ratio of 28.05. The stock has a market cap of $756.51 million, a P/E ratio of -10.50 and a beta of -0.52. The company’s 50 day simple moving average is $8.87 and its 200 day simple moving average is $6.76.

Candel Therapeutics (NASDAQ:CADL) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.16. As a group, equities analysts forecast that Candel Therapeutics, Inc. will post -0.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Francesca Barone sold 23,447 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $10.06, for a total transaction of $235,876.82. Following the sale, the insider owned 77,362 shares of the company’s stock, valued at approximately $778,261.72. This trade represents a 23.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of Candel Therapeutics stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.02, for a total value of $70,140.00. Following the transaction, the chief technology officer owned 83,865 shares in the company, valued at approximately $840,327.30. This represents a 7.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 14.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Candel Therapeutics

Large investors have recently modified their holdings of the business. Moneta Group Investment Advisors LLC raised its position in shares of Candel Therapeutics by 4.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 42,517 shares of the company’s stock worth $240,000 after purchasing an additional 2,000 shares during the period. Invesco Ltd. grew its position in shares of Candel Therapeutics by 29.0% in the 4th quarter. Invesco Ltd. now owns 15,039 shares of the company’s stock valued at $85,000 after purchasing an additional 3,380 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Candel Therapeutics by 12.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 30,472 shares of the company’s stock valued at $149,000 after purchasing an additional 3,400 shares during the period. MetLife Investment Management LLC grew its position in shares of Candel Therapeutics by 25.5% in the 4th quarter. MetLife Investment Management LLC now owns 19,443 shares of the company’s stock valued at $110,000 after purchasing an additional 3,955 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in 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 in the last quarter. 13.93% of the stock is currently owned by 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.