Candel Therapeutics, Inc. (CADL) Stock Price & Analysis
Candel Therapeutics, Inc. (CADL) closed at USD 8.67 on Wednesday, October 28, 2026, up 5.09% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 8.25; the Oct 28, 2026 session ranged USD 8.13–8.69 on volume of 663,002 shares. Market capitalization is $663.42M, with a 52-week range of USD 4.35–14 (NGM). Source: Nexqual, retrieved October 29, 2026 at 09:22 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CADL.md
Key facts (CADL)
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $3.6M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (10 analysts), mean target USD 22.11 (range 15–29).
- Total return with dividends: 1Y +57.9% vs S&P 500 +13.6%; 5Y -22.8% vs S&P 500 +79.8%.
- Next earnings: 2026-11-12, EPS estimate USD -0.31, revenue estimate $0K.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CADL)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $125K | $125K | — | — | — | — |
| Operating income | -$25.7M | -$34.7M | -$38.4M | -$33.4M | -$48.3M | -$72.0M |
| Net income | -$36.1M | -$18.8M | -$37.9M | -$55.2M | -$38.2M | -$88.5M |
| EPS (diluted) | -$1.91 | -$0.65 | -$1.31 | -$1.74 | -$0.72 | — |
| Free cash flow | -$24.1M | -$32.7M | -$34.7M | -$27.0M | -$38.9M | -$57.3M |
| Operating margin | -20580.8% | -27777.6% | — | — | — | — |
| Net margin | -28899.2% | -15035.2% | — | — | — | — |
| Revenue growth | +0.0% | +0.0% | — | — | — | — |
| Cash + short-term investments | $82.6M | $70.1M | $35.4M | $103M | $120M | — |
| Total debt | $560K | — | $20.5M | $11.6M | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (CADL)
P/B 5.3x · FCF yield -8.64% · Earnings yield -13.34%
Insider sales (SEC Form 4, open-market, last ~7 months) (CADL)
4 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-10…2026-09-11 | Tak Paul Peter | Chief Executive Officer | 280,245 | $3.2M | 71.2% | Yes | Too little history (no open-market trades in 2023) |
| 2026-08-17 | Tyagarajan Seshu | Chief Technology Officer | 7,000 | $84K | 8.3% | Yes | Too little history (no open-market trades in 2023) |
| 2026-06-29 | Barone Francesca | Chief Scientific Officer | 23,447 | $236K | 23.3% | Yes | Too little history (no open-market trades in 2023) |
| 2026-06-29 | Tyagarajan Seshu | Chief Technology Officer | 7,000 | $70K | 7.7% | Yes | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (CADL)
Consensus Buy (mean 2.00 on a 1–5 scale), 10 analysts; mean target USD 22.11 (low 15, high 29).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Jefferies | Initiated | Buy | $25 |
| 2026-09-21 | B of A Securities | Upgrade | Neutral → Buy | $12 → $18 |
| 2026-08-14 | B of A Securities | Target raised | Neutral | $9 → $12 |
| 2026-08-13 | HC Wainwright & Co. | Reiterated | Buy | $23 |
| 2026-07-13 | Stifel | Initiated | Buy | $22 |
Total return (dividends reinvested) (CADL)
| 1Y (from 2025-10-29) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | +57.9% | -22.8% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | +58.2% | -5.0% |
| Volatility (annualized) | 69.3% | 110.1% |
| Max drawdown | -43.4% (Aug 2026→Oct 2026) | -94.0% (Oct 2021→Oct 2023) |
CADL earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 13, 2026 | Quarter ended Jun 30, 2026 | −$0.36 | −$0.23 | Miss −56.5% | +9.7% |
| May 14, 2026 | Quarter ended Mar 31, 2026 | −$0.14 | −$0.33 | Beat +57.6% | -1.9% |
| Mar 12, 2026 | Quarter ended Dec 31, 2025 | −$0.29 | −$0.23 | Miss −26.1% | -8.4% |
| Feb 19, 2026 | Quarter ended Dec 31, 2025 | −$0.29 | −$0.23 | Miss −26.1% | -12.7% |
| Nov 13, 2025 | Quarter ended Sep 30, 2025 | −$0.23 | −$0.16 | Miss −43.8% | -5.7% |
| Oct 14, 2025 | Quarter ended Sep 30, 2025 | −$0.23 | −$0.16 | Miss −43.8% | -7.7% |
| Aug 14, 2025 | — | — | — | — | -4.8% |
| May 13, 2025 | — | — | — | — | +6.6% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
CADL recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Sep 10, 2026 | 8-K | Director or executive officer change, or pay arrangement; Regulation FD disclosure “On September 6, 2026, the Board of Directors (the "Board") of Candel Therapeutics, Inc. (the "Company") increased the size of the Board from ten (10) to eleven (11) directors and unanimously appointed Martine Zimmermann, Pharm.D, to fill the newly created vacancy on the Board, effective September 8, 2026. Upon her appointment, Dr. Zimmermann became a member of the slate of Class III directors with terms expiring at the 2027 Annual Meeting of Stockholders of the Company. The Board has determined that Dr. Zimmermann…” |
| Sep 9, 2026 | 8-K | Regulation FD disclosure |
| Aug 13, 2026 | 10-Q | Quarterly report · period ended Jun 30, 2026 |
| Aug 13, 2026 | 8-K | Quarterly results |
| Jul 27, 2026 | Schedule 13G | BlackRock, Inc.: 6.6% of shares, passive 5%+ holder |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
CADL suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Periphagen | “Under the license agreement, Periphagen granted us a worldwide exclusive license with the right to grant sublicenses through multiple tiers under the Licensed IP Rights to conduct research and to develop, make, have made, use, have used, offer for sale, have sold, export and import products incorporating the Licensed IP Rights in all fields of use except the treatment, diagnosis, and prevention of nononcologic ski…” |
| Partner | Jefferies | “We simultaneously entered into a sales agreement with Jefferies LLC, as sales agent, to provide for the issuance and sale by us of up to $75.0 million of our common stock from time to time in "at-the-market" offerings under the 2022 Shelf (the 2022 ATM Program).” |
| Partner | Ventagen | “On March 1, 2014, we entered into an exclusive license agreement (the Ventagen Agreement), with Ventagen, LLC (Ventagen).” |
| Partner | Trinity Capital Inc. (TRIN) | “Interest expense primarily consists of interest expense on our debt under our Loan and Security Agreement with Trinity and our Loan Agreement with SVB.” |
| Partner | WuXi | “Any additional executive action, legislative action or potential sanctions with China could materially impact one of our current partners, WuXi, and our agreement with them as it relates to our stability testing, or any agreement with other Chinese biotechnology companies.” |
Quoted from the company's 10-K filed Mar 12, 2026.
CADL company outlook (results filed Aug 13, 2026)
- “Based on current operating plans, the Company expects that its existing cash and cash equivalents, as of June 30, 2026, will be sufficient to fund operations into Q1 2028.”
Quoted word-for-word from the SEC 8-K results press release.
CADL analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.31 | $0.00 | −$0.31 | $0 | 2 |
| Next quarter (ends Dec 2026) | $-0.33 | $0.00 | −$0.33 | $0 | 2 |
| Current fiscal year (ends Dec 2026) | $-1.08 | $-0.87 | −$0.21 | $0 | 3 |
| Next fiscal year (ends Dec 2027) | $-0.63 | $0.22 | −$0.84 | $41.9M | 2 |
CADL options: expected move
Options price a move of about ±36.5% (±$3.10) by Nov 20, 2026, which includes earnings on Nov 12, 2026. Over the last 8 reports the stock moved ±7.2% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 22 | 185.1% | ±36.5% |
| Jan 15, 2027 | 78 | 88.5% | ±33.9% |
| Apr 16, 2027 | 169 | 93.5% | ±48.8% |
30-day implied volatility 103.2% vs 58.3% realized over the last 30 trading days. Put/call ratio (volume) 9.28. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 29, 2026 at 09:22 UTC)
| Price | USD 8.67 |
|---|---|
| Change | ▲ 5.09% (up) |
| Previous Close | USD 8.25 |
| Open | USD 8.13 |
| Day Range | USD 8.13 – 8.69 |
| 52-Week Range | USD 4.35 – 14 |
| Volume | 663,002 shares |
| Market Cap | $663.42M |
| Exchange | NGM |
Technical Analysis (CADL)
Nexqual's technical model rates CADL "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 29, 2026 at 09:22 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 43.5 (neutral) |
| vs SMA50 | Below (USD 10.86) |
| MACD | -0.72 (negative) |
Analyst Ratings (CADL)
Wall Street analysts rate CADL "Buy" based on 10 analysts, with a mean price target of USD 22.11 (range USD 15–29), per Nexqual as of October 29, 2026 at 09:22 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 10 |
| Mean Target | USD 22.11 |
| High Target | USD 29 |
| Low Target | USD 15 |
| Buy / Hold / Sell | 10 / 0 / 0 |
Earnings (CADL)
| Next Earnings Date | 2026-11-12 |
|---|---|
| EPS Estimate | USD -0.31 |
| Revenue Estimate | $0 |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.36 vs est -0.24 ▼ miss |
| 2026-03-31 | USD -0.14 vs est -0.33 ▲ beat |
| 2025-12-31 | USD -0.29 vs est -0.24 ▼ miss |
| 2025-09-30 | USD -0.23 vs est -0.17 ▼ miss |
Source: Nexqual, October 29, 2026 at 09:22 UTC.
Financials & Fundamentals (CADL)
| Gross Margin | +0.00% |
|---|---|
| Operating Margin | +0.00% |
| Profit Margin | +0.00% |
| ROE | -81.84% |
| Debt / Equity | 0.39 |
| Current Ratio | 16.09 |
| Total Cash | $201.56M |
| Total Debt | $49.52M |
Source: Nexqual, October 29, 2026 at 09:22 UTC.
Financial Health Score (CADL)
Nexqual rates Candel Therapeutics, Inc.'s overall financial health "Weak" across five dimensions, as of October 29, 2026 at 09:22 UTC.
| Growth | Mixed — No data |
|---|---|
| Profitability | Weak — Pre-revenue or very early stage |
| Balance Sheet | Strong — $202M cash vs $50M debt, net cash position |
| Cash Flow | Weak — Operating cash flow -$38M (FY ended Dec 2025, 10-K) |
| Efficiency | Critical — ROE -70%, ROA -42.5% (last 4 quarters, SEC) |
Ownership (CADL)
| Insider Ownership | +14.65% |
|---|---|
| Institutional Ownership | +66.67% |
| Shares Outstanding | 76.52M |
| Float | 60.22M |
| Short % of Float | +21.46% |
Source: Nexqual, October 29, 2026 at 09:22 UTC.
Leadership (CADL)
Candel Therapeutics, Inc. is led by Paul-Peter Tak FOCIS, President, CEO & Director, per Nexqual as of October 29, 2026 at 09:22 UTC.
| President, CEO & Director | Paul-Peter Tak FOCIS |
|---|---|
| Senior VP, CFO, Treasurer & Secretary | Charles Schoch |
| Chief Scientific Officer | Francesca Barone |
| Vice President of Investor Relations & Business Development | Theodore Jenkins |
Major Backers & Investors (CADL)
Notable institutional backers of Candel Therapeutics, Inc. include Fidelity, FMR, LLC, RTW Investments LP, according to Nexqual as of October 29, 2026 at 09:22 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Fidelity | 14.41% |
| FMR, LLC | 14.36% |
| RTW Investments LP | 8.39% |
| Acorn Capital Advisors, LLC | 4.57% |
| Portolan Capital Management, LLC | 4.56% |
| Saturn V Capital Management LP | 4.32% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 6.49% |
| State Street | 4.64% |
| Vanguard Group | 3.52% |
| Geode Capital | 2.05% |
Source: Nexqual, October 29, 2026 at 09:22 UTC.
From Candel Therapeutics, Inc.'s Latest SEC 10-K Filing (filed 2026-03-12)
Key Strengths & Strategy (as disclosed to the SEC)
- We have also designed additional novel viral immunotherapy candidates using our proprietary enLIGHTEN Discovery Platform, a systematic, iterative HSV-based discovery platform leveraging human biology and advanced analytics to create new viral immunotherapy candidates for solid tumors.
- Therefore, this study aimed to assess whether adding aglatimagene plus valacyclovir to standard of care (SoC) radiotherapy could improve disease-free survival (DFS) in patients pursuing curative treatment, a primary endpoint established in the SPA with the FDA.
- We are in ongoing dialogue with the FDA in preparation for the Company's anticipated submission of a Biologics License Application (BLA) for aglatimagene in prostate cancer in the fourth quarter of 2026.
- Key attributes of the enLIGHTEN Discovery Platform include: Strong focus on human biology, including deep phenotyping of human tumors, to increase probability of success Data driven selection of the payload.
Legal & Regulatory Risks (Item 1A, quoted)
- The regulatory approval processes of the FDA and comparable foreign regulatory authorities are lengthy, time-consuming and inherently unpredictable. If we are not able to obtain, or experience delays in obtaining, required regulatory approvals, we will not be able to commercialize aglatimagene, linoserpaturev and future product candidates as expected, and our ability to generate revenue may be materially impaired.
- Regulatory authorities have substantial discretion in the approval process and may refuse to accept any application or may decide that our data are insufficient for approval and require additional preclinical, clinical or other studies.
- The FDA's agreement to a Special Protocol Assessment with respect to the study design of our pivotal phase 3 clinical trial of aglatimagene in newly diagnosed localized prostate cancer in intermediate and high-risk patients does not guarantee any particular outcome from regulatory review, including ultimate approval, and may not lead to a successful review or approval process.
- We may seek approval of certain of our current or future product candidates using the FDA's accelerated approval pathway.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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| IONS | Ionis Pharmaceuticals, Inc. | USD 44.9 | ▲ 2.14% |
| AXSM | Axsome Therapeutics, Inc. | USD 143.51 | ▲ 0.92% |
| ABVX | Abivax SA | USD 89.84 | ▲ 3.26% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 09:22 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt