HC Wainwright Issues Pessimistic Forecast for CADL Earnings

Candel Therapeutics, Inc. (NASDAQ:CADL) – Investment analysts at HC Wainwright dropped their FY2024 earnings estimates for Candel Therapeutics in a report released on Monday, November 18th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings of ($1.65) per share for the year, down from their prior forecast of ($0.91). HC Wainwright currently has a “Buy” rating and a $11.00 target price 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’ FY2025 earnings at $0.15 EPS.

Candel Therapeutics Stock Up 3.9 %

Shares of NASDAQ CADL opened at $4.14 on Wednesday. The firm has a market cap of $134.30 million, a P/E ratio of -2.39 and a beta of -0.88. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.18. Candel Therapeutics has a 1 year low of $0.77 and a 1 year high of $14.30. The firm’s 50 day moving average price is $5.86 and its 200 day moving average price is $6.66.

Institutional Trading of Candel Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Candel Therapeutics in the 2nd quarter valued at about $162,000. Rhumbline Advisers acquired a new position in shares of Candel Therapeutics during the 2nd quarter valued at $143,000. Point72 DIFC Ltd purchased a new stake in Candel Therapeutics during the 2nd quarter worth $31,000. Bank of New York Mellon Corp acquired a new stake in Candel Therapeutics in the 2nd quarter valued at $338,000. Finally, 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 worth $199,000 after purchasing an additional 21,971 shares in the last quarter. 13.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Candel Therapeutics

In related news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $6.02, for a total transaction of $90,300.00. Following the completion of the transaction, the insider now owns 929,873 shares of the company’s stock, valued at approximately $5,597,835.46. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 31,800 shares of company stock worth $193,380 over the last quarter. 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.