What is HC Wainwright’s Forecast for CADL FY2024 Earnings?

Candel Therapeutics, Inc. (NASDAQ:CADL) – HC Wainwright lifted their FY2024 earnings estimates for Candel Therapeutics in a note issued to investors on Wednesday, December 18th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings per share of ($1.59) for the year, up from their prior estimate of ($1.65). HC Wainwright currently has a “Buy” rating and a $19.00 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’ Q4 2024 earnings at ($0.27) EPS and FY2025 earnings at ($1.35) EPS.

Candel Therapeutics Stock Down 12.1 %

Shares of NASDAQ:CADL opened at $8.75 on Friday. Candel Therapeutics has a 1-year low of $1.06 and a 1-year high of $14.60. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $284.17 million, a P/E ratio of -5.06 and a beta of -0.95. The firm has a fifty day moving average price of $5.46 and a 200 day moving average price of $6.05.

Insider Transactions at Candel Therapeutics

In related news, insider William Garrett Nichols sold 13,935 shares of Candel Therapeutics stock in a transaction on Friday, November 29th. The shares were sold at an average price of $4.56, for a total value of $63,543.60. Following the transaction, the insider now directly owns 100,547 shares in the company, valued at $458,494.32. This trade represents a 12.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $5,716,481.65. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,127 shares of company stock worth $349,911. Company insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp lifted its position in Candel Therapeutics by 4.1% in the third 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. Geode Capital Management LLC lifted its holdings in shares of Candel Therapeutics by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 448,997 shares of the company’s stock valued at $3,112,000 after buying an additional 51,111 shares during the period. Bank of New York Mellon Corp acquired a new position in Candel Therapeutics during the second quarter worth $338,000. Barclays PLC raised its position in Candel Therapeutics by 327.1% in 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 in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Candel Therapeutics in the second quarter valued at $162,000. 13.93% of the stock is currently owned by institutional investors and hedge funds.

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.