HC Wainwright Expects Lower Earnings for Candel Therapeutics

Candel Therapeutics, Inc. (NASDAQ:CADL) – HC Wainwright dropped their FY2025 earnings estimates for shares of Candel Therapeutics in a report released on Wednesday, February 26th. HC Wainwright analyst V. Bernardino now expects that the company will post earnings of ($1.39) per share for the year, down from their previous estimate of ($1.35). HC Wainwright currently has a “Buy” rating and a $19.00 price target on the stock. The consensus estimate for Candel Therapeutics’ current full-year earnings is ($1.47) per share.

A number of other research firms have also commented on CADL. Bank of America initiated coverage on shares of Candel Therapeutics in a research report on Friday, February 7th. They set a “buy” rating and a $15.00 price target on the stock. Citigroup initiated coverage on Candel Therapeutics in a research report on Thursday, February 20th. They set a “buy” rating and a $25.00 target price for the company. Finally, Canaccord Genuity Group raised their price target on Candel Therapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday.

Candel Therapeutics Trading Up 1.5 %

Candel Therapeutics stock opened at $8.60 on Friday. The company has a market capitalization of $279.29 million, a price-to-earnings ratio of -4.97 and a beta of -1.25. The stock’s 50 day moving average is $8.34 and its 200-day moving average is $6.73. Candel Therapeutics has a 12 month low of $1.34 and a 12 month high of $14.60.

Institutional Trading of Candel Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in shares of Candel Therapeutics in the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. raised its position in shares of Candel Therapeutics by 75.1% in the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock worth $33,000 after acquiring an additional 1,610 shares in the last quarter. FMR LLC acquired a new stake in Candel Therapeutics during the third quarter worth approximately $46,000. Wells Fargo & Company MN increased its holdings in Candel Therapeutics by 63.6% in the fourth quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock worth $88,000 after purchasing an additional 3,935 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Candel Therapeutics by 15.2% in the fourth quarter. JPMorgan Chase & Co. now owns 10,426 shares of the company’s stock valued at $90,000 after buying an additional 1,375 shares during the period. Institutional investors and hedge funds own 13.93% of the company’s stock.

Insider Transactions at Candel Therapeutics

In other news, insider Francesca Barone sold 13,673 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $8.22, for a total transaction of $112,392.06. Following the completion of the transaction, the insider now directly owns 124,207 shares in the company, valued at approximately $1,020,981.54. This represents a 9.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Seshu Tyagarajan sold 14,322 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total value of $103,404.84. Following the completion of the transaction, the chief technology officer now owns 96,790 shares of the company’s stock, valued at $698,823.80. This represents a 12.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,529 shares of company stock valued at $313,512. 41.60% of the stock is currently owned by insiders.

About Candel Therapeutics

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.