Banor Capital Ltd. recently announced the acquisition of new stake in Candel Therapeutics Inc. (NASDAQ:CADL). The institutional investor has increased its shareholding in the Healthcare company by 5.50% to 0.31 million shares with purchase of 15976.0 shares. This fresh investment now brings its stake to 1.06% valued currently at $0.55 million. In addition, Geode Capital Management LLC raised its holdings by 53629.0 to 0.13 million shares.
With over 0.11 million Candel Therapeutics Inc. (CADL) shares trading Monday and a closing price of $2.72 on the day, the dollar volume was approximately $0.29 million. The shares have shown a negative half year performance of -15.00% and its price on 01/23/23 gained nearly 14.29%. Currently, there are 28.89M common shares owned by the public and among those 18.89M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for CADL have a consensus price objective of $9.00. The analysts have set the share’s price value over the next 12 months at a high of $11.00 and a low of $8.00. The average price target is 76.55% above its recent price level and an upside to the estimated low will see the stock gain 66.0% over that period. But an upside of 75.27% will see the stock hit the forecast high price target while median target price for the stock is $8.50.
Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 917,522 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 122,608 shares.
The top 3 mutual fund holders in Candel Therapeutics Inc. are Fidelity Select Port. – Biotechno, FTIF SICAV – Biotechnology Discov, and Franklin Biotechnology Discovery. Fidelity Select Port. – Biotechno owns 0.74 million shares of the company’s stock, all valued at over $1.32 million. The company sold 64700.0 shares recently to bring their total holdings to about 2.55% of the shares outstanding. Franklin Biotechnology Discovery now owns shares totaling to 1.39% of the shares outstanding.
However, the script later moved the day high at 3.0500, up 14.29%. The company’s stock has a 5-day price change of 30.77% and 83.78% over the past three months. CADL shares are trading 51.96% year to date (YTD), with the 12-month market performance down to -57.17% lower. It has a 12-month low price of $1.40 and touched a high of $6.75 over the same period. CADL has an average intraday trading volume of 47.73K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 43.65%, 49.10%, and -10.22% respectively.
Institutional ownership of Candel Therapeutics Inc. (NASDAQ: CADL) shares accounts for 21.90% of the company’s 28.89M shares outstanding. Mutual fund holders own 34.82%, while other institutional holders and individual stakeholders account for 9.91% and 2.69% respectively.
It has a market capitalization of $74.28M. The earnings-per-share (ttm) stands at -$0.42. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.41% over the week and 14.58% over the month.
Analysts forecast that Candel Therapeutics Inc. (CADL) will achieve an EPS of -$0.35 for the current quarter, -$0.4 for the next quarter and -$1.05 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.53 while analysts give the company a high EPS estimate of -$0.19. Comparatively, EPS for the current quarter was -$0.26 a year ago. Earnings per share for the fiscal year are expected to decrease by -200.90%, and 9.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Candel Therapeutics Inc. (CADL) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CADL, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on December 02, 2022, with the firm’s price target at $11. BMO Capital Markets coverage for the Candel Therapeutics Inc. (CADL) stock in a research note released on November 19, 2021 offered a Outperform rating with a price target of $18. UBS was of a view on August 23, 2021 that the stock is Buy, while Jefferies gave the stock Buy rating on August 23, 2021, issuing a price target of $22. Credit Suisse on their part issued Outperform rating on August 23, 2021.