Candel Therapeutics (NASDAQ:CADL) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Candel Therapeutics (NASDAQ:CADL) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Several other research analysts have also commented on CADL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a report on Monday, April 20th. Stifel Nicolaus initiated coverage on shares of Candel Therapeutics in a research note on Monday, July 13th. They set a “buy” rating and a $22.00 price objective on the stock. Cantor Fitzgerald initiated coverage on shares of Candel Therapeutics in a report on Monday, April 20th. They issued an “overweight” rating on the stock. Finally, Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.57.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL opened at $9.57 on Friday. Candel Therapeutics has a twelve month low of $4.35 and a twelve month high of $11.36. The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $701.19 million, a price-to-earnings ratio of -9.77 and a beta of -0.52. The business has a 50 day simple moving average of $8.93 and a 200-day simple moving average of $6.82.

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, topping the consensus estimate of ($0.30) by $0.16. As a group, equities research analysts expect that Candel Therapeutics will post -0.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Seshu Tyagarajan sold 7,000 shares of Candel Therapeutics stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $10.02, for a total value of $70,140.00. Following the sale, the chief technology officer directly owned 83,865 shares in the company, valued at $840,327.30. This trade represents a 7.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Francesca Barone sold 23,447 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $10.06, for a total transaction of $235,876.82. Following the transaction, the insider directly owned 77,362 shares of the company’s stock, valued at $778,261.72. The trade was a 23.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On Candel Therapeutics

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Candel Therapeutics by 12.3% during the third quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock worth $10,236,000 after buying an additional 219,563 shares during the period. Geode Capital Management LLC increased its position in Candel Therapeutics by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 977,512 shares of the company’s stock valued at $5,524,000 after acquiring an additional 49,315 shares during the period. Halter Ferguson Financial Inc. increased its position in Candel Therapeutics by 20.9% in the 1st quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock valued at $4,430,000 after acquiring an additional 155,996 shares during the period. State Street Corp increased its position in Candel Therapeutics by 15.0% in the 4th quarter. State Street Corp now owns 792,218 shares of the company’s stock valued at $4,476,000 after acquiring an additional 103,452 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in Candel Therapeutics during the 1st quarter valued at $845,000. Institutional investors and hedge funds own 13.93% of the company’s stock.

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.