HC Wainwright Issues Pessimistic Estimate for CADL Earnings

Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) - Analysts at HC Wainwright dropped their FY2024 earnings per share estimates for Candel Therapeutics in a report released on Monday, November 18th. HC Wainwright analyst V. Bernardino now anticipates that the company will post earnings per share of ($1.65) for the year, down from their prior estimate 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 ($0.91) per share. HC Wainwright also issued estimates for Candel Therapeutics' FY2025 earnings at $0.15 EPS.

Candel Therapeutics Price Performance

CADL traded up $0.03 on Wednesday, hitting $4.02. 210,052 shares of the stock were exchanged, compared to its average volume of 1,795,193. The business has a 50-day moving average of $5.96 and a two-hundred day moving average of $6.69. The firm has a market capitalization of $130.55 million, a price-to-earnings ratio of -2.31 and a beta of -0.88. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.18 and a quick ratio of 1.18. Candel Therapeutics has a 12 month low of $0.77 and a 12 month high of $14.30.

Insiders Place Their Bets

In other news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $6.02, for a total transaction of $90,300.00. Following the transaction, the insider now owns 929,873 shares of the company's stock, valued at $5,597,835.46. This represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 31,800 shares of company stock valued at $193,380. 41.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Candel Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CADL. State Street Corp boosted its holdings in Candel Therapeutics by 4.1% in the 3rd quarter. State Street Corp now owns 492,005 shares of the company's stock worth $3,410,000 after buying an additional 19,207 shares during the period. Geode Capital Management LLC grew its position in Candel Therapeutics by 12.8% in 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 in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Candel Therapeutics in the second quarter valued at about $338,000. Barclays PLC boosted its stake in shares of Candel Therapeutics by 327.1% during the 3rd quarter. Barclays PLC now owns 28,688 shares of the company's stock valued at $199,000 after purchasing an additional 21,971 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Candel Therapeutics during the second quarter worth about $162,000. 13.93% of the stock is owned by hedge funds and other institutional investors.

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.