Candel Therapeutics (NASDAQ:CADL) Given New $22.00 Price Target at Citigroup

Candel Therapeutics (NASDAQ:CADL) had its target price decreased by Citigroup from $24.00 to $22.00 in a research report sent to investors on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on CADL. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 target price on shares of Candel Therapeutics in a research report on Friday. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Stephens reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Candel Therapeutics in a research note on Monday, December 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Wednesday, January 21st. Finally, Wall Street Zen cut shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Candel Therapeutics Trading Down 6.2%

Shares of CADL opened at $4.67 on Friday. Candel Therapeutics has a fifty-two week low of $4.25 and a fifty-two week high of $9.08. The company has a market capitalization of $256.38 million, a PE ratio of -6.58 and a beta of -0.91. The stock has a fifty day moving average of $5.59 and a two-hundred day moving average of $5.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.25 and a current ratio of 8.25.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.30). As a group, analysts forecast that Candel Therapeutics will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other news, Director Paul B. Manning bought 550,458 shares of Candel Therapeutics stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the completion of the acquisition, the director owned 2,763,527 shares of the company’s stock, valued at $15,061,222.15. The trade was a 24.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On Candel Therapeutics

A number of large investors have recently modified their holdings of the company. Invesco Ltd. acquired a new position in shares of Candel Therapeutics in the 1st quarter valued at about $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Candel Therapeutics by 37.7% during the 1st 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 during the period. Rhumbline Advisers increased its position in Candel Therapeutics by 26.8% during the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock worth $188,000 after purchasing an additional 7,030 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Candel Therapeutics during the 2nd quarter worth approximately $126,000. Finally, Geode Capital Management LLC raised its holdings in Candel Therapeutics by 31.5% in the second quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock valued at $4,575,000 after buying an additional 216,509 shares during the period. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

Candel Therapeutics News Summary

Here are the key news stories impacting Candel Therapeutics this week:

• Positive Sentiment: Canaccord Genuity reaffirmed a “buy” rating and set a $25.00 price target (~435% upside vs. the current $4.67), supporting bullish sentiment and potential buying interest. Canaccord Genuity Buy Rating
• Positive Sentiment: Citigroup kept a “buy” rating while trimming its price target to $22.00 (still ~371% upside), which can lend confidence to momentum investors despite the lower PT. Citigroup Price Target Cut
• Positive Sentiment: Company update: Candel outlined progress advancing its lead cancer immunotherapy toward potential commercialization, announced planned Phase 3 trials and a regulatory filing timeline, and described actions to strengthen the balance sheet—news that supports long-term value drivers. Corporate Update & Balance Sheet
• Neutral Sentiment: Reported short-interest data in recent feeds shows zero shares and NaN changes (likely a reporting anomaly); this makes it hard to read short-seller pressure from public data today. (No reliable short-interest link available.)
• Negative Sentiment: Q4 earnings miss: Candel reported ($0.54) EPS vs. consensus ($0.24) loss, a material miss that likely triggered selling by near-term traders concerned about cash burn and near-term execution. Q4 Earnings Release
• Negative Sentiment: Debt covenant risk: An analyst note flagged restrictive covenants in the RTW purchase agreement that could limit financial flexibility and raise default risk—this increases investor concern about financing options and downside risk. RTW Covenant Risk Note

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.