Equities Analysts Set Expectations for CADL FY2024 Earnings

Candel Therapeutics, Inc. (NASDAQ:CADL) – Investment analysts at HC Wainwright lowered their FY2024 earnings per share (EPS) estimates for Candel Therapeutics in a research report issued to clients and investors on Monday, November 18th. HC Wainwright analyst V. Bernardino now anticipates that the company will earn ($1.65) per share for the year, down from their prior estimate of ($0.91). HC Wainwright has a “Buy” rating and a $11.00 price objective on the stock. The consensus estimate for Candel Therapeutics’ current full-year earnings is ($0.91) per share. HC Wainwright also issued estimates for Candel Therapeutics’ FY2025 earnings at $0.15 EPS.

Candel Therapeutics Stock Performance

NASDAQ CADL opened at $3.98 on Wednesday. The company has a market cap of $129.25 million, a PE ratio of -2.30 and a beta of -0.88. The stock’s 50 day simple moving average is $5.90 and its 200-day simple moving average is $6.67. Candel Therapeutics has a 1-year low of $0.77 and a 1-year high of $14.30. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.18 and a quick ratio of 1.18.

Insider Activity

In related news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of Candel Therapeutics stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $6.05, for a total transaction of $90,750.00. Following the transaction, the insider now owns 944,873 shares in the company, valued at approximately $5,716,481.65. This trade represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 31,800 shares of company stock worth $193,380 over the last quarter. 41.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Candel Therapeutics

A number of institutional investors have recently added to or reduced their stakes in CADL. Bank of New York Mellon Corp purchased a new position in Candel Therapeutics during the second quarter worth approximately $338,000. Geode Capital Management LLC increased its stake in Candel Therapeutics by 12.8% during the third quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock worth $3,112,000 after acquiring an additional 51,111 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Candel Therapeutics during the second quarter worth $162,000. Rhumbline Advisers acquired a new stake in Candel Therapeutics during the second quarter worth $143,000. Finally, Barclays PLC increased its stake in Candel Therapeutics by 327.1% during the third quarter. Barclays PLC now owns 28,688 shares of the company’s stock worth $199,000 after acquiring an additional 21,971 shares during the last quarter. Hedge funds and other institutional investors own 13.93% of the company’s stock.

Candel Therapeutics Company Profile

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.