Candel Therapeutics (NASDAQ:CADL) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Candel Therapeutics (NASDAQ:CADL) announced its earnings results on Friday. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.06, FiscalAI reports.

Candel Therapeutics Trading Down 26.1%

Candel Therapeutics stock traded down $2.19 during trading hours on Friday, reaching $6.20. The company had a trading volume of 6,615,131 shares, compared to its average volume of 1,165,069. The firm has a market cap of $474.42 million, a price-to-earnings ratio of -4.19 and a beta of -0.27. Candel Therapeutics has a 12-month low of $4.35 and a 12-month high of $14.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 16.09 and a quick ratio of 16.09. The company has a 50-day moving average price of $9.75 and a 200 day moving average price of $8.39.

Analyst Upgrades and Downgrades

CADL has been the topic of several recent research reports. Wall Street Zen lowered Candel Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Thursday, October 15th. Canaccord Genuity Group decreased their price target on shares of Candel Therapeutics from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday. Stifel Nicolaus lowered their price objective on shares of Candel Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Friday. Finally, Bank of America upgraded shares of Candel Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $18.00 in a report on Monday, September 21st. Nine equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.57.

Insider Activity

In other news, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $12.00, for a total value of $84,000.00. Following the transaction, the chief technology officer owned 76,865 shares in the company, valued at approximately $922,380. This trade represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 14.30% of the company’s stock.

More Candel Therapeutics News

These are some of the CADL news items that stood out recently:

• Positive Sentiment: HC Wainwright, Canaccord Genuity and Stifel lowered their price targets but maintained Buy ratings, signaling continued analyst optimism despite the revised outlook.
• Negative Sentiment: The company now expects to submit its biologics license application for aglatimagene in mid-2027. The delay followed FDA discussions and pushed back a key potential catalyst, prompting sharp selling. Mid-2027 BLA plan
• Negative Sentiment: Law firm Block & Leviton announced an investigation into whether Candel misled investors. The announcement describes an investigation, not a finding of wrongdoing. Securities investigation announcement

Candel Therapeutics Company Profile

Candel Therapeutics is a clinical-stage biotechnology company developing viral immunotherapies designed to stimulate the immune system to fight cancer. Its approach uses engineered viruses to trigger immune responses against tumors. The company’s clinical-stage programs include CAN-2409, an adenovirus-based therapy being studied in several solid tumors, and CAN-3110, an oncolytic herpes simplex virus therapy being investigated for recurrent glioblastoma. Based in Needham, Massachusetts, Candel conducts clinical development of its therapies for cancer indications.