Candel Therapeutics (NASDAQ:CADL) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Candel Therapeutics, Inc. (NASDAQ:CADL)’s share price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $8.23 and traded as high as $8.37. Candel Therapeutics shares last traded at $8.25, with a volume of 928,459 shares trading hands.

Analysts Set New Price Targets

CADL has been the topic of a number of research reports. Zacks Research lowered Candel Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 14th. HC Wainwright reaffirmed a “buy” rating on shares of Candel Therapeutics in a research note on Friday, October 2nd. 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 price target for the company. UBS Group restated a “buy” rating on shares of Candel Therapeutics in a report on Monday, August 17th. Finally, Jefferies Financial Group started coverage on shares of Candel Therapeutics in a research report on Thursday, October 22nd. They set a “buy” rating and a $25.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.43.

Candel Therapeutics Stock Down 0.2%

The company has a market cap of $661.89 million, a PE ratio of -6.13 and a beta of -0.32. 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 fifty day moving average price of $10.86 and a 200 day moving average price of $8.25.

Candel Therapeutics (NASDAQ:CADL) last issued its earnings results on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). As a group, analysts anticipate that Candel Therapeutics, Inc. will post -1.29 EPS for the current year.

Insider Buying and Selling

In related news, CTO Seshu Tyagarajan sold 7,000 shares of Candel Therapeutics stock in a transaction 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 directly owned 76,865 shares of the company’s stock, valued at $922,380. The trade was a 8.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 14.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Candel Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Candel Therapeutics in the second quarter valued at about $51,181,000. Halter Ferguson Financial Inc. raised its stake in shares of Candel Therapeutics by 20.9% during the first quarter. Halter Ferguson Financial Inc. now owns 904,051 shares of the company’s stock valued at $4,430,000 after acquiring an additional 155,996 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Candel Therapeutics during the second quarter worth about $2,873,000. Wellington Management Group LLP purchased a new stake in shares of Candel Therapeutics during the second quarter worth about $2,119,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Candel Therapeutics in the second quarter worth about $1,975,000. Hedge funds and other institutional investors own 13.93% of the company’s stock.

About Candel Therapeutics

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.