Research Analysts Set Expectations for CADL FY2024 Earnings

Candel Therapeutics, Inc. (NASDAQ:CADL - Free Report) - HC Wainwright boosted their FY2024 earnings per share estimates for Candel Therapeutics in a note issued to investors on Wednesday, December 18th. HC Wainwright analyst V. Bernardino now expects that the company will earn ($1.59) per share for the year, up from their previous 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 Performance

CADL traded down $1.21 during trading on Friday, hitting $8.75. The stock had a trading volume of 4,830,458 shares, compared to its average volume of 2,429,308. 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 company has a 50 day moving average price of $5.46 and a 200-day moving average price of $6.05. Candel Therapeutics has a one year low of $1.06 and a one year high of $14.60. The firm has a market cap of $284.17 million, a price-to-earnings ratio of -5.06 and a beta of -0.95.

Insider Transactions at Candel Therapeutics

In other Candel Therapeutics news, Director Paul B. Manning bought 1,250,000 shares of the stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of $6.00 per share, with a total value of $7,500,000.00. Following the completion of the acquisition, the director now owns 1,303,752 shares of the company's stock, valued at $7,822,512. This trade represents a 2,325.49 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Seshu Tyagarajan sold 20,392 shares of Candel Therapeutics stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $4.56, for a total transaction of $92,987.52. Following the completion of the sale, the chief technology officer now owns 125,657 shares of the company's stock, valued at approximately $572,995.92. The trade was a 13.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,127 shares of company stock valued at $349,911. 41.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Candel Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new position in Candel Therapeutics in the second quarter valued at about $31,000. FMR LLC bought a new position in Candel Therapeutics in the 3rd quarter valued at about $46,000. MetLife Investment Management LLC acquired a new position in shares of Candel Therapeutics in the 3rd quarter valued at approximately $87,000. Atom Investors LP acquired a new position in shares of Candel Therapeutics in the 3rd quarter valued at approximately $103,000. Finally, Rhumbline Advisers bought a new stake in shares of Candel Therapeutics during the 2nd quarter worth approximately $143,000. 13.93% of the stock is currently owned by institutional investors.

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.