Candel Therapeutics (NASDAQ:CADL) Trading 5.6% Higher – Here’s What Happened

Shares of Candel Therapeutics, Inc. (NASDAQ:CADL) traded up 5.6% during trading on Tuesday . The stock traded as high as $13.57 and last traded at $13.5810. Approximately 122,371 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 1,523,547 shares. The stock had previously closed at $12.86.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Bank of America raised their price objective on shares of Candel Therapeutics from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. UBS Group reaffirmed a “buy” rating on shares of Candel Therapeutics in a report on Monday, August 17th. Wall Street Zen downgraded shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Zacks Research raised Candel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Finally, Stifel Nicolaus began coverage on Candel Therapeutics in a research report on Monday, July 13th. They issued a “buy” rating and a $22.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Candel Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Candel Therapeutics Stock Down 2.4%

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 firm’s 50-day simple moving average is $10.40 and its two-hundred day simple moving average is $7.81. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -9.42 and a beta of -0.51.

Candel Therapeutics (NASDAQ:CADL) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). Sell-side analysts predict that Candel Therapeutics, Inc. will post -1.29 EPS for the current fiscal year.

Insider Buying and Selling at Candel Therapeutics

In related news, insider Francesca Barone sold 23,447 shares of the stock in a transaction dated 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 approximately $778,261.72. This represents a 23.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Seshu Tyagarajan sold 7,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $12.00, for a total transaction of $84,000.00. Following the completion of the sale, the chief technology officer directly owned 76,865 shares in the company, valued at approximately $922,380. The trade was a 8.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,447 shares of company stock valued at $390,017 in the last ninety days. Corporate insiders own 14.30% of the company’s stock.

Institutional Trading of Candel Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in shares of 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 last quarter. Tower Research Capital LLC TRC raised its position in shares of Candel Therapeutics by 361.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,608 shares of the company’s stock worth $49,000 after purchasing an additional 7,527 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Candel Therapeutics in the 4th quarter valued at approximately $59,000. Invesco Ltd. purchased a new stake in Candel Therapeutics in the 1st quarter valued at approximately $59,000. Finally, Renaissance Technologies LLC acquired a new stake in Candel Therapeutics during the 1st quarter valued at $63,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

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.