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

Candel Therapeutics (NASDAQ:CADL) posted its quarterly earnings data on Thursday. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.30), FiscalAI reports.

Candel Therapeutics Stock Performance

Shares of CADL traded up $1.12 during mid-day trading on Thursday, reaching $11.80. The company’s stock had a trading volume of 2,147,785 shares, compared to its average volume of 1,529,173. The company has a current ratio of 28.05, a quick ratio of 28.05 and a debt-to-equity ratio of 0.34. Candel Therapeutics has a 1-year low of $4.35 and a 1-year high of $11.87. The business has a 50-day simple moving average of $9.57 and a two-hundred day simple moving average of $7.33. The stock has a market cap of $864.59 million, a P/E ratio of -12.04 and a beta of -0.51.

Insider Buying and Selling

In related news, CTO Seshu Tyagarajan sold 7,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $10.02, for a total value of $70,140.00. Following the sale, the chief technology officer owned 83,865 shares in the company, valued at approximately $840,327.30. This represents a 7.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Francesca Barone sold 23,447 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $10.06, for a total value of $235,876.82. Following the sale, the insider directly owned 77,362 shares of the company’s stock, valued at $778,261.72. This represents a 23.26% decrease in their position. The SEC filing for this sale provides additional information. 14.30% of the stock is currently owned by insiders.

Institutional Trading of Candel Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in Candel Therapeutics by 128.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,901 shares of the company’s stock valued at $40,000 after buying an additional 4,439 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Candel Therapeutics by 361.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after acquiring an additional 7,527 shares during the period. Invesco Ltd. acquired a new position in shares of Candel Therapeutics in the first quarter valued at approximately $59,000. The Manufacturers Life Insurance Company bought a new position in shares of Candel Therapeutics during the second quarter worth approximately $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 during the period. Institutional investors own 13.93% of the company’s stock.

Analyst Ratings Changes

CADL has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and set a $23.00 price target on shares of Candel Therapeutics in a research report on Thursday. Zacks Research raised Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Cantor Fitzgerald began coverage on Candel Therapeutics in a research note on Monday, April 20th. They set an “overweight” rating on the stock. Stifel Nicolaus began coverage on Candel Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Wall Street Zen raised shares of Candel Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.57.

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.