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Candel Therapeutics
(NASDAQ:CADL)
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Rating:50Neutral
Price Target:
$8.50
▼(-35.99% Downside)
Action:Reiterated
Date:09/11/26
The score is held back primarily by weak financial performance (no revenue, widening losses, and accelerating negative free cash flow), with some support from a comparatively stronger balance sheet. Technicals are mixed but not bearish overall, while valuation offers limited support given negative earnings and no dividend. Corporate updates are positive and improve the outlook narrative, but near-term fundamentals remain the dominant risk.
Positive Factors
Clinical validation
Positive results across randomized and early-stage trials provide meaningful clinical validation for the lead immunotherapy. Meeting the primary endpoint in a 745-patient phase 3 study could support regulatory progress, improve commercialization prospects, and create a foundation for future revenue if approval is achieved.
Negative Factors
No recurring revenue
Candel remains pre-commercial, with no meaningful recurring revenue to offset substantial operating costs. Deep EBIT and net losses indicate that the company has not yet achieved operating leverage, leaving future financial improvement highly dependent on clinical, regulatory, and commercialization success.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical validation
Positive results across randomized and early-stage trials provide meaningful clinical validation for the lead immunotherapy. Meeting the primary endpoint in a 745-patient phase 3 study could support regulatory progress, improve commercialization prospects, and create a foundation for future revenue if approval is achieved.
Read all positive factors
Candel Therapeutics (CADL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$663.42M
Dividend YieldN/A
Average Volume (3M)1.06M
Price to Earnings (P/E)―
Beta (1Y)1.23
Revenue GrowthN/A
EPS Growth-108.75%
CountryUS
Employees55
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.41
Shares Outstanding76,518,560
10 Day Avg. Volume1,091,717
30 Day Avg. Volume1,061,453
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)5.76
Price to Sales (P/S)0.00
P/FCF Ratio-7.69
Enterprise Value/Market Cap0.92
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-7.36
Forecast
1Y Price Target
$21.50Price Target Upside61.90% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-1.36
Revenue Forecast (FY)N/A
Candel Therapeutics Business Overview & Revenue Model
Company Description
Candel Therapeutics, Inc. is a clinical-stage biopharmaceutical firm based in Needham, Massachusetts, dedicated to developing innovative immunotherapies for cancer patients. Its pipeline features CAN-2409, which is presently in Phase II clinical t...
Candel Therapeutics Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
52
Neutral
Cash Flow
23
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 125.00K | 125.00K |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 125.00K | 125.00K |
| EBITDA | -83.14M | -35.22M | -52.10M | -34.38M | -16.31M | -35.89M |
| Net Income | -88.53M | -38.18M | -55.18M | -37.94M | -18.79M | -36.12M |
Balance Sheet | ||||||
| Total Assets | 208.15M | 125.19M | 106.87M | 41.20M | 78.52M | 89.20M |
| Cash, Cash Equivalents and Short-Term Investments | 201.56M | 119.73M | 102.65M | 35.41M | 70.06M | 82.64M |
| Total Debt | 49.52M | 1.90M | 13.47M | 22.76M | 22.80M | 560.00K |
| Total Liabilities | 82.02M | 73.27M | 40.54M | 28.46M | 30.80M | 25.07M |
| Stockholders Equity | 126.13M | 51.92M | 66.33M | 12.74M | 47.71M | 64.14M |
Cash Flow | ||||||
| Free Cash Flow | -57.32M | -38.90M | -27.04M | -34.70M | -32.72M | -24.05M |
| Operating Cash Flow | -56.02M | -38.31M | -27.02M | -34.24M | -31.42M | -22.22M |
| Investing Cash Flow | -1.27M | -560.00K | -16.00K | -280.00K | -1.30M | -1.83M |
| Financing Cash Flow | 158.32M | 56.10M | 94.28M | -121.00K | 19.97M | 71.80M |
Candel Therapeutics Technical Analysis
Neutral
13.28
Price Trends
10.86
Negative
10.33
Negative
8.26
Positive
Market Momentum
-0.72
Negative
41.13
Neutral
41.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CADL, the sentiment is Neutral. The current price of 13.28 is above the 20-day moving average (MA) of 9.07, above the 50-day MA of 10.86, and above the 200-day MA of 8.26, indicating a neutral trend. The MACD of -0.72 indicates Negative momentum. The RSI at 41.13 is Neutral, neither overbought nor oversold. The STOCH value of 41.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CADL.
Candel Therapeutics Risk Analysis
Candel Therapeutics disclosed 92 risk factors in its most recent earnings report. Candel Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Candel Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $1.51B | -5.76 | -157.78% | ― | ― | 19.12% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $663.42M | -6.15 | -89.38% | ― | ― | -108.75% | |
48 Neutral | $1.10B | -4.15 | -47.04% | ― | -65.40% | -164.71% | |
48 Neutral | $267.84M | -0.68 | -91.62% | ― | -55.00% | 51.58% | |
44 Neutral | $514.24M | -5.24 | -38.46% | ― | -87.03% | -179.91% | |
41 Neutral | $209.01M | -1.29 | -53.86% | ― | ― | -7.24% |
* Healthcare Sector Average
CADL
Candel Therapeutics
8.67
3.18
57.92%
CTMX
CytomX Therapeutics
2.36
-0.90
-27.61%
REPL
Replimune Group
16.06
5.85
57.30%
IMTX
Immatics
7.35
-2.99
-28.92%
LYEL
Lyell Immunopharma
10.93
-5.66
-34.12%
ARTV
Artiva Biotherapeutics, Inc.
4.28
-0.11
-2.62%
Candel Therapeutics Corporate Events
Business Operations and StrategyExecutive/Board Changes
Candel Therapeutics Adds Independent Director to Board
Positive
Sep 10, 2026
On September 6, 2026, Candel Therapeutics’ board expanded from ten to eleven members and unanimously appointed Martine Zimmermann, Pharm.D., as an independent Class III director, effective September 8, 2026, with a term running until the 202...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Candel Therapeutics Highlights Progress of Lead Oncology Candidate
Positive
Sep 9, 2026
In September 2026, Candel Therapeutics detailed clinical progress and corporate positioning in an investor presentation highlighting its lead asset aglatimagene besadenovec. The therapy has delivered positive results across randomized phase 3 and ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.