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

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

Candel Therapeutics Stock Down 1.9 %

CADL opened at $7.94 on Friday. The stock has a market cap of $257.86 million, a PE ratio of -4.59 and a beta of -1.29. Candel Therapeutics has a twelve month low of $1.34 and a twelve month high of $14.60. The company has a fifty day moving average of $8.22 and a 200-day moving average of $6.92.

Insider Buying and Selling at Candel Therapeutics

In related news, CTO Seshu Tyagarajan sold 14,322 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $7.22, for a total transaction of $103,404.84. Following the transaction, the chief technology officer now owns 96,790 shares in the company, valued at $698,823.80. The trade was a 12.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Francesca Barone sold 13,673 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $8.22, for a total transaction of $112,392.06. Following the completion of the sale, the insider now owns 124,207 shares of the company’s stock, valued at $1,020,981.54. The trade was a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,529 shares of company stock valued at $313,512. 41.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CADL. Citigroup began coverage on Candel Therapeutics in a research note on Thursday, February 20th. They issued a “buy” rating and a $25.00 price objective for the company. Bank of America began coverage on shares of Candel Therapeutics in a report on Friday, February 7th. They set a “buy” rating and a $15.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $19.00 target price on shares of Candel Therapeutics in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group upped their price target on Candel Therapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th.

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.