Candel Therapeutics, Inc. (NASDAQ:CADL) to Post Q2 2023 Earnings of ($0.23) Per Share, HC Wainwright Forecasts

Candel Therapeutics, Inc. (NASDAQ:CADL – Get Rating) – Analysts at HC Wainwright issued their Q2 2023 earnings per share (EPS) estimates for Candel Therapeutics in a research note issued to investors on Monday, May 22nd. HC Wainwright analyst V. Bernardino forecasts that the company will post earnings per share of ($0.23) for the quarter. The consensus estimate for Candel Therapeutics’ current full-year earnings is ($0.68) per share. HC Wainwright also issued estimates for Candel Therapeutics’ Q3 2023 earnings at ($0.15) EPS and Q4 2023 earnings at ($0.12) EPS.

Separately, Credit Suisse Group reduced their price target on Candel Therapeutics from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, March 31st.

Candel Therapeutics Trading Down 4.1 %

CADL opened at $1.62 on Tuesday. The stock has a market capitalization of $46.85 million, a P/E ratio of -1.76 and a beta of 0.53. The company has a current ratio of 11.82, a quick ratio of 11.82 and a debt-to-equity ratio of 0.50. Candel Therapeutics has a 12 month low of $1.15 and a 12 month high of $4.25. The firm’s fifty day simple moving average is $1.49 and its 200 day simple moving average is $1.77.

Candel Therapeutics (NASDAQ:CADL – Get Rating) last issued its quarterly earnings data on Thursday, March 30th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The company had revenue of $0.03 million during the quarter.

Institutional Trading of Candel Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in shares of Candel Therapeutics during the first quarter worth approximately $28,000. BlackRock Inc. boosted its stake in Candel Therapeutics by 19.2% in the 1st quarter. BlackRock Inc. now owns 46,544 shares of the company’s stock valued at $63,000 after purchasing an additional 7,497 shares during the period. Resources Investment Advisors LLC. acquired a new position in Candel Therapeutics in the 1st quarter valued at $34,000. Baystate Wealth Management LLC bought a new position in Candel Therapeutics during the 1st quarter worth $143,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Candel Therapeutics during the third quarter worth $53,000. Institutional investors own 21.05% of the company’s stock.

About Candel Therapeutics

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Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. The company 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.