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

Candel Therapeutics (NASDAQ:CADL) posted its quarterly earnings results on Thursday. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.17), Zacks reports.

Candel Therapeutics Trading Down 1.9 %

CADL traded down $0.15 during trading on Thursday, hitting $7.94. 456,383 shares of the company’s stock traded hands, compared to its average volume of 2,640,145. The company’s 50 day simple moving average is $8.24 and its two-hundred day simple moving average is $6.91. The stock has a market capitalization of $257.86 million, a price-to-earnings ratio of -4.59 and a beta of -1.29. Candel Therapeutics has a 12-month low of $1.34 and a 12-month high of $14.60.

Insider Activity

In other news, insider Francesca Barone sold 13,534 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $7.22, for a total transaction of $97,715.48. Following the transaction, the insider now directly owns 110,673 shares of the company’s stock, valued at $799,059.06. This represents a 10.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Seshu Tyagarajan sold 14,322 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total value of $103,404.84. Following the transaction, the chief technology officer now directly owns 96,790 shares in the company, valued at $698,823.80. The trade was a 12.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,529 shares of company stock valued at $313,512 in the last ninety days. 41.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.