Candel Therapeutics (NASDAQ:CADL) Cut to Neutral at Bank of America

Bank of America downgraded shares of Candel Therapeutics (NASDAQ:CADL) from a buy rating to a neutral rating in a research report report published on Wednesday, Marketbeat.com reports. The brokerage currently has $7.00 price objective on the stock, down from their prior price objective of $13.00.

Several other research analysts also recently weighed in on CADL. Brookline Capital Management raised shares of Candel Therapeutics to a “strong-buy” rating in a research report on Wednesday, July 9th. Wall Street Zen raised Candel Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, HC Wainwright upgraded Candel Therapeutics to a “buy” rating and set a $23.00 price objective for the company in a research report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Candel Therapeutics presently has an average rating of “Buy” and an average target price of $20.00.

Candel Therapeutics Stock Performance

Candel Therapeutics stock opened at $5.00 on Wednesday. The firm’s 50 day simple moving average is $5.99 and its 200-day simple moving average is $6.10. The company has a market cap of $274.50 million, a P/E ratio of -7.25 and a beta of -0.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.04 and a quick ratio of 7.04. Candel Therapeutics has a fifty-two week low of $3.79 and a fifty-two week high of $14.60.

Candel Therapeutics (NASDAQ:CADL) last released its earnings results on Thursday, August 14th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.08. As a group, equities research analysts predict that Candel Therapeutics will post -1.47 EPS for the current year.

Institutional Investors Weigh In On Candel Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its stake in shares of Candel Therapeutics by 63.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock worth $88,000 after purchasing an additional 3,935 shares in the last quarter. Barclays PLC raised its stake in shares of Candel Therapeutics by 19.6% during the 4th quarter. Barclays PLC now owns 34,317 shares of the company’s stock worth $297,000 after purchasing an additional 5,629 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Candel Therapeutics by 9.7% during the 4th quarter. MetLife Investment Management LLC now owns 13,773 shares of the company’s stock worth $120,000 after purchasing an additional 1,215 shares in the last quarter. Northern Trust Corp raised its stake in shares of Candel Therapeutics by 3.9% during the 4th quarter. Northern Trust Corp now owns 165,021 shares of the company’s stock worth $1,432,000 after purchasing an additional 6,250 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Candel Therapeutics during the 4th quarter worth about $30,000. 13.93% of the stock is currently owned by institutional investors and hedge funds.

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.