Research Analysts Set Expectations for CADL FY2024 Earnings

Candel Therapeutics, Inc. (NASDAQ:CADL) – Investment analysts at HC Wainwright upped their FY2024 earnings per share estimates for shares of Candel Therapeutics in a report released on Wednesday, December 18th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings of ($1.59) per share for the year, up from their previous estimate of ($1.65). 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 ($1.65) per share. HC Wainwright also issued estimates for Candel Therapeutics’ Q4 2024 earnings at ($0.27) EPS and FY2025 earnings at ($1.35) EPS.

Candel Therapeutics Stock Down 12.1 %

CADL opened at $8.75 on Friday. The business has a 50 day moving average of $5.46 and a 200-day moving average of $6.05. The stock has a market capitalization of $284.17 million, a price-to-earnings ratio of -5.06 and a beta of -0.95. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66. Candel Therapeutics has a 1-year low of $1.06 and a 1-year high of $14.60.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Candel Therapeutics by 327.1% during the third quarter. Barclays PLC now owns 28,688 shares of the company’s stock valued at $199,000 after acquiring an additional 21,971 shares during the period. Geode Capital Management LLC raised its holdings in Candel Therapeutics by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after purchasing an additional 51,111 shares during the last quarter. State Street Corp lifted its position in Candel Therapeutics by 4.1% during the 3rd quarter. State Street Corp now owns 492,005 shares of the company’s stock valued at $3,410,000 after purchasing an additional 19,207 shares during the period. Atom Investors LP bought a new position in Candel Therapeutics in the third quarter valued at approximately $103,000. Finally, MetLife Investment Management LLC bought a new position in shares of Candel Therapeutics in the 3rd quarter worth $87,000. Institutional investors and hedge funds own 13.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Paul B. Manning purchased 1,250,000 shares of Candel Therapeutics stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $6.00 per share, for a total transaction of $7,500,000.00. Following the transaction, the director now directly owns 1,303,752 shares in the company, valued at approximately $7,822,512. This represents a 2,325.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $6.05, for a total transaction of $90,750.00. Following the completion of the transaction, the insider now directly owns 944,873 shares of the company’s stock, valued at approximately $5,716,481.65. This represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,127 shares of company stock valued at $349,911 over the last quarter. Corporate insiders own 41.60% of the company’s stock.

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.