Candel Therapeutics (NASDAQ:CADL) Releases Quarterly Earnings Results, Misses Estimates By $0.30 EPS

Candel Therapeutics (NASDAQ:CADL) posted its earnings results on Thursday. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30), FiscalAI reports.

Candel Therapeutics Stock Performance

Shares of NASDAQ:CADL traded down $0.03 during midday trading on Thursday, reaching $5.07. The company’s stock had a trading volume of 437,324 shares, compared to its average volume of 1,055,736. The stock has a fifty day moving average of $5.62 and a 200 day moving average of $5.44. The firm has a market capitalization of $278.29 million, a PE ratio of -8.83 and a beta of -0.91. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 0.01. Candel Therapeutics has a twelve month low of $4.25 and a twelve month high of $9.08.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CADL. Wall Street Zen lowered Candel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Stephens restated an “overweight” rating and set a $15.00 target price on shares of Candel Therapeutics in a research note on Monday, December 8th. Citigroup reduced their target price on 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 raised Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Candel Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Insider Buying and Selling

In related news, Director Paul B. Manning bought 550,458 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average cost of $5.45 per share, with a total value 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. The trade was a 24.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.60% of the stock is currently owned by company insiders.

Institutional Trading of Candel Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CADL. BNP Paribas Financial Markets grew its holdings in Candel Therapeutics by 128.2% in the third quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after purchasing an additional 4,439 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Candel Therapeutics by 361.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock valued at $49,000 after purchasing an additional 7,527 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Candel Therapeutics in the first quarter valued at about $59,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Candel Therapeutics in the second quarter valued at about $70,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 worth $95,000 after purchasing an additional 4,583 shares in the last quarter. 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.