Candel Therapeutics (NASDAQ:CADL) Now Covered by Jefferies Financial Group

Investment analysts at Jefferies Financial Group initiated coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $25.00 price target on the stock. Jefferies Financial Group‘s price objective suggests a potential upside of 198.33% from the company’s previous close.

A number of other research firms have also weighed in on CADL. Stifel Nicolaus began coverage on shares of Candel Therapeutics in a research note on Monday, July 13th. They set a “buy” rating and a $22.00 target price on the stock. Bank of America upgraded shares of Candel Therapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $18.00 in a research note on Monday, September 21st. UBS Group reiterated a “buy” rating on shares of Candel Therapeutics in a report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Candel Therapeutics in a research report on Thursday, October 15th. Finally, HC Wainwright restated a “buy” rating on shares of Candel Therapeutics in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.43.

Candel Therapeutics Stock Up 0.1%

Shares of NASDAQ:CADL opened at $8.38 on Thursday. The company has a market capitalization of $641.24 million, a price-to-earnings ratio of -5.94 and a beta of -0.32. Candel Therapeutics has a 12-month low of $4.35 and a 12-month high of $14.00. The business has a 50-day moving average price of $11.18 and a 200 day moving average price of $9.44. The company has a current ratio of 16.09, a quick ratio of 16.09 and a debt-to-equity ratio of 0.38.

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

Insider Activity at Candel Therapeutics

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC acquired a new stake in shares of Candel Therapeutics in the 1st quarter valued at approximately $845,000. BlackRock Inc. acquired a new position in Candel Therapeutics during the second quarter worth $51,181,000. Wellington Management Group LLP acquired a new stake in Candel Therapeutics in the second quarter valued at $2,119,000. Bank of New York Mellon Corp acquired a new stake in Candel Therapeutics in the second quarter valued at $1,975,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Candel Therapeutics during the 2nd quarter worth $775,000. 13.93% of the stock is owned by hedge funds and other institutional investors.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc is a clinical-stage biopharmaceutical company developing biological immunotherapies designed to stimulate the immune system to recognize and attack cancer. The company’s approach uses engineered viral therapies intended to promote immunogenic cell death and generate broader, potentially systemic antitumor immune responses.

Candel’s pipeline includes CAN-3110, an investigational oncolytic immunotherapy based on a genetically engineered herpes simplex virus type 1.