HC Wainwright Has Bearish Forecast for CADL FY2024 Earnings

Candel Therapeutics, Inc. (NASDAQ:CADL) – HC Wainwright lowered their FY2024 earnings estimates for shares of Candel Therapeutics in a research note issued on Monday, November 18th. HC Wainwright analyst V. Bernardino now anticipates 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 ($0.91) per share. HC Wainwright also issued estimates for Candel Therapeutics’ FY2025 earnings at $0.15 EPS.

Candel Therapeutics Stock Up 0.9 %

Shares of NASDAQ CADL opened at $3.99 on Wednesday. The business has a 50-day moving average of $5.96 and a 200-day moving average of $6.69. The firm has a market capitalization of $129.58 million, a price-to-earnings ratio of -2.31 and a beta of -0.88. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66. Candel Therapeutics has a 12 month low of $0.77 and a 12 month high of $14.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CADL. Point72 DIFC Ltd purchased a new stake in Candel Therapeutics in the 2nd quarter worth approximately $31,000. FMR LLC bought a new stake in shares of Candel Therapeutics during the 3rd quarter valued at about $46,000. MetLife Investment Management LLC bought a new stake in shares of Candel Therapeutics during the 3rd quarter valued at about $87,000. Atom Investors LP purchased a new position in shares of Candel Therapeutics during the third quarter valued at about $103,000. Finally, Rhumbline Advisers bought a new position in Candel Therapeutics in the second quarter worth about $143,000. Institutional investors own 13.93% of the company’s stock.

Insiders Place Their Bets

In other Candel Therapeutics news, major shareholder Estuardo Aguilar-Cordova sold 15,000 shares of the company’s 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 completion of the sale, the insider now directly owns 929,873 shares in the company, valued at $5,597,835.46. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 31,800 shares of company stock valued at $193,380 over the last 90 days. Insiders own 41.60% of the company’s stock.

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.