Candel Therapeutics (NASDAQ:CADL) Reaches New 12-Month High – Should You Buy?

Candel Therapeutics, Inc. (NASDAQ:CADL) hit a new 52-week high on Wednesday . The company traded as high as $11.36 and last traded at $10.30, with a volume of 2941846 shares trading hands. The stock had previously closed at $10.36.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CADL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Monday, April 20th. Citigroup lowered their target price on Candel Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a report on Friday, March 13th. Cantor Fitzgerald began coverage on Candel Therapeutics in a research report on Monday, April 20th. They issued an “overweight” rating for the company. Zacks Research upgraded shares of Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $25.00 price target on shares of Candel Therapeutics in a research report on Friday, March 13th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Candel Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Candel Therapeutics Trading Down 0.5%

The company’s 50 day simple moving average is $8.30 and its 200 day simple moving average is $6.48. 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 firm has a market cap of $720.24 million, a price-to-earnings ratio of -10.03 and a beta of -0.52.

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, beating the consensus estimate of ($0.30) by $0.16. As a group, research analysts expect that Candel Therapeutics, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Activity

In other Candel Therapeutics news, insider Francesca Barone sold 23,447 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.06, for a total value of $235,876.82. Following the sale, the insider owned 77,362 shares of the company’s stock, valued at $778,261.72. This trade represents a 23.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the chief technology officer owned 83,865 shares of the company’s stock, valued at $840,327.30. The trade was a 7.70% decrease in their position. The SEC filing for this sale provides additional information. 14.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Candel Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in shares of Candel Therapeutics by 128.2% during the third 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. Tower Research Capital LLC TRC raised its stake in Candel Therapeutics by 361.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock valued at $49,000 after buying an additional 7,527 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Candel Therapeutics in the fourth quarter valued at $51,000. ProShare Advisors LLC purchased a new stake in Candel Therapeutics during the 4th quarter worth about $59,000. Finally, Invesco Ltd. purchased a new stake in Candel Therapeutics during the 1st quarter worth about $59,000. 13.93% of the stock is currently owned by institutional investors and hedge funds.

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.