Candel Therapeutics (NASDAQ:CADL) Posts Quarterly Earnings Results, Misses Estimates By $0.17 EPS

Candel Therapeutics (NASDAQ:CADL) issued its quarterly earnings results on Thursday. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.17), Zacks reports.

Candel Therapeutics Stock Down 1.9 %

CADL traded down $0.15 during trading hours on Thursday, hitting $7.94. 455,653 shares of the company’s stock were exchanged, compared to its average volume of 2,640,143. Candel Therapeutics has a 1-year low of $1.34 and a 1-year high of $14.60. The stock’s 50-day moving average is $8.24 and its two-hundred day moving average is $6.91. The stock has a market cap of $257.86 million, a price-to-earnings ratio of -4.59 and a beta of -1.29.

Insiders Place Their Bets

In related news, insider Francesca Barone sold 13,673 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was 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 of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul B. Manning purchased 1,250,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was bought at an average price of $6.00 per share, with a total value of $7,500,000.00. Following the completion of the purchase, the director now owns 1,303,752 shares of the company’s stock, valued at approximately $7,822,512. This represents a 2,325.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 41,529 shares of company stock valued at $313,512 in the last three months. 41.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CADL shares. HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Candel Therapeutics in a research note on Wednesday, February 26th. Citigroup initiated coverage on shares of Candel Therapeutics in a report on Thursday, February 20th. They issued a “buy” rating and a $25.00 target price on the stock. Bank of America assumed coverage on Candel Therapeutics in a report on Friday, February 7th. They set a “buy” rating and a $15.00 price target for the company. Finally, Canaccord Genuity Group boosted their price objective on shares of Candel Therapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th.

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.