Candel Therapeutics (NASDAQ:CADL – Get Free Report)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $23.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 108.05% from the stock’s current price.
Other research analysts have also issued reports about the company. Zacks Research upgraded Candel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Cantor Fitzgerald assumed coverage on Candel Therapeutics in a research note on Monday, April 20th. They set an “overweight” rating for the company. Stifel Nicolaus initiated coverage on shares of Candel Therapeutics in a report on Monday, July 13th. They set a “buy” rating and a $22.00 target price on the stock. Wall Street Zen raised shares of Candel Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Candel Therapeutics in a report on Friday, July 17th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Candel Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.57.
Read Our Latest Report on Candel Therapeutics
Candel Therapeutics Trading Up 3.5%
Candel Therapeutics (NASDAQ:CADL – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.30). Equities research analysts forecast that Candel Therapeutics will post -0.91 EPS for the current fiscal year.
Insider Activity
In other news, insider Francesca Barone sold 23,447 shares of the business’s 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 completion of the sale, the insider owned 77,362 shares of the company’s stock, valued at approximately $778,261.72. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Seshu Tyagarajan sold 7,000 shares of the firm’s 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 transaction, the chief technology officer owned 83,865 shares in the company, valued at approximately $840,327.30. This trade represents a 7.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Candel Therapeutics in the 2nd quarter worth about $51,181,000. Vanguard Group Inc. increased its holdings in Candel Therapeutics by 12.3% in the third quarter. Vanguard Group Inc. now owns 2,007,112 shares of the company’s stock valued at $10,236,000 after purchasing an additional 219,563 shares during the period. Geode Capital Management LLC raised its position in Candel Therapeutics by 31.5% during the 2nd quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock worth $4,575,000 after purchasing an additional 216,509 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Candel Therapeutics during the 2nd quarter worth $1,975,000. Finally, Janus Henderson Group PLC acquired a new position in Candel Therapeutics during the 1st quarter worth about $845,000. 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.
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