Candel Therapeutics, Inc. Forecasted to Earn FY2023 Earnings of ($0.72) Per Share (NASDAQ:CADL)

Candel Therapeutics, Inc. (NASDAQ:CADL – Get Rating) – Equities research analysts at HC Wainwright decreased their FY2023 earnings per share estimates for shares of Candel Therapeutics in a note issued to investors on Monday, May 22nd. HC Wainwright analyst V. Bernardino now expects that the company will post earnings of ($0.72) per share for the year, down from their previous estimate of ($0.68). The consensus estimate for Candel Therapeutics’ current full-year earnings is ($0.68) per share. HC Wainwright also issued estimates for Candel Therapeutics’ FY2024 earnings at ($0.65) EPS.

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

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

Candel Therapeutics Trading Down 4.9 %

Shares of NASDAQ:CADL opened at $1.54 on Wednesday. The business’s 50-day moving average is $1.49 and its 200 day moving average is $1.77. Candel Therapeutics has a 1 year low of $1.15 and a 1 year high of $4.25. The firm has a market capitalization of $44.54 million, a P/E ratio of -1.67 and a beta of 0.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 11.82 and a quick ratio of 11.82.

Institutional Trading of Candel Therapeutics

Large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new stake in Candel Therapeutics during the 3rd quarter valued at about $53,000. Renaissance Technologies LLC purchased a new position in Candel Therapeutics during the first quarter worth approximately $28,000. Resources Investment Advisors LLC. purchased a new position in Candel Therapeutics during the first quarter worth approximately $34,000. BlackRock Inc. boosted its position in Candel Therapeutics by 19.2% during the first quarter. BlackRock Inc. now owns 46,544 shares of the company’s stock worth $63,000 after purchasing an additional 7,497 shares in the last quarter. Finally, Baystate Wealth Management LLC purchased a new position in Candel Therapeutics during the first quarter worth approximately $143,000. Hedge funds and other institutional investors own 21.05% of the company’s stock.

Candel Therapeutics Company Profile

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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.