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Candel Therapeutics, Inc. (CADL) stock

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NASDAQ: CADL Nasdaq Biotechnology Next results ~November 12, 2026

Candel Therapeutics, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 3 selling1 purchase and 5 sales by directors and officers, last 12 monthsInsider trades
  • Funds103 adding, 37 cuttingOf 34 active managers that changed their stake, 23 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Current signal Operating margin compressing: TTM operating margin fell to -28000.8%, down 7253.2pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.2bn.

Things to watch

  • Loss-making. Operating margin is -28000.8%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 7253.2 points on a year ago.
  • Burning cash. Free cash flow was -26383.9% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 1860.5% of revenue: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 39.2% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 70% and a beta of 1.9 against the S&P 500.

Latest results: FY2022 Q4

Filed March 28, 2024
Earnings per share
-$0.36 against an average estimate of -$0.23: missed by 52.8%
Revenue
$0m, up 0.0% on a year earlier
Share reaction
+9.7% in the first session after the results on August 13, 2026, against +0.5% for the S&P 500
Next report
November 12, 2026; average EPS estimate -$0.31

Candel Therapeutics' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.5%
  • 1 week+4.2%
  • 1 month-20.2%
  • This year+43.7%
  • 1 year+50.9%
  • 5 years-30.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

EPS (TTM, diluted)
$-1.46

Growth

Share count change
+39.2%

Earnings

Last results
August 13, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Insider trade
  3. Announcement
  4. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Candel Therapeutics, Inc. valuation models and calculator

No model value for Candel Therapeutics, Inc. at the moment. Current status: data-quality checks not passed. Available reported financials are shown below.

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 12, 2026, before the open. Analysts expect revenue of $0 and EPS of −$0.31 (range −$0.33 to −$0.29) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$1.08 −23% — 0%
Next −$0.63 +42% $42m 0%

Next year's EPS estimate has moved −384.1% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +23.7% on 90 days ago. In the last 30 days, 0 analysts raised Candel Therapeutics, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Candel Therapeutics, Inc., last 90 days
−$1.50 −$1.00 −$0.50 $0.00 $0.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.87 Current fiscal year, 60 days ago: −$0.90 Current fiscal year, 30 days ago: −$1.00 Current fiscal year, 7 days ago: −$1.08 Current fiscal year, Now: −$1.08 −$1.08 Next fiscal year, 90 days ago: $0.22 Next fiscal year, 60 days ago: −$0.60 Next fiscal year, 30 days ago: −$0.63 Next fiscal year, 7 days ago: −$0.63 Next fiscal year, Now: −$0.63 −$0.63

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.87$0.22
60 days ago −$0.90−$0.60
30 days ago −$1.00−$0.63
7 days ago −$1.08−$0.63
Now −$1.08−$0.63

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.23 −$0.36 −52.8%
Mar 2026 −$0.33 −$0.14 +57.1%
Dec 2025 −$0.23 −$0.29 −23.8%
Sept 2025 −$0.17 −$0.23 −37.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

10 analysts, Oct 2026
Buy10100%
Hold00%
Sell00%

Monthly trend

  1. Oct 20261010
  2. Sep 202699
  3. Aug 2026819
  4. Jul 2026819

Counts of recommendations published by analysts covering Candel Therapeutics, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
21.5%
of tradable shares
Days to cover
12.22
at average volume
Short interest, 1 month
+3%
to October 15, 2026
Held by institutions
67%
of shares
Held by insiders
14.6%
of shares
Employees
55
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 20222023202420252026 to date
Return
CADL−77%−18%+491%−35%+44%
Industry peers (median)−56%−17%−29%−5%−27%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
CADL33%33%50%42%46%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
CADL−82%−75%−73%−64%−43%
S&P 500−25%−10%−8%−19%−9%

Worst fall since July 27, 2021: 94% from October 26, 2021 to November 3, 2023. Getting back needed a 1663% gain, reached on May 15, 2024, 194 days after the low.

Price behaviour

52-week range
$4.42 – $13.75
From 52-week high
−40.9%
vs 50-day average
−23.3%
vs 200-day average
−2.1%
Volatility (1 year)
70%
Beta vs S&P 500
1.95

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±7.2%
After a week
3 up, 9 down
typical move ±10.5%
After a month
5 up, 7 down
typical move ±16.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 13, 2026 +9.7% +0.5% +15.6% 0.0%
May 14, 2026 −1.9% −0.4% −11.3% −4.3%
March 12, 2026 −8.4% −2.1% −3.7% −4.5%
February 19, 2026 −12.7% +0.5% −12.0% −15.0%
November 13, 2025 −5.7% −1.7% −10.2% +17.3%
October 14, 2025 −7.7% +0.3% −15.1% −24.0%
August 14, 2025 −4.8% −0.2% −9.5% −24.2%
May 13, 2025 +6.6% +0.8% +18.0% +7.0%
March 13, 2025 +8.2% +0.7% +2.0% −38.6%
January 13, 2025 −4.2% +0.3% −19.3% +4.5%
November 14, 2024 −11.4% −1.9% −3.6% +43.5%
August 13, 2024 −5.7% +2.0% −5.9% +17.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Candel Therapeutics, Inc.
$110K $120K $130K $140K FY21 Q1 FY21 Q3 FY22 Q1 FY22 Q4 Revenue (TTM), FY21 Q1: $124K Revenue (TTM), FY21 Q2: $124K Revenue (TTM), FY21 Q3: $124K Revenue (TTM), FY21 Q4: $124K Revenue (TTM), FY22 Q1: $124K Revenue (TTM), FY22 Q2: $124K Revenue (TTM), FY22 Q3: $124K Revenue (TTM), FY22 Q4: $124K $124K

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY21 Q1 $124K
FY21 Q2 $124K
FY21 Q3 $124K
FY21 Q4 $124K
FY22 Q1 $124K
FY22 Q2 $124K
FY22 Q3 $124K
FY22 Q4 $124K
Revenue growth, TTM YoY Candel Therapeutics, Inc.
0% 0.5% 1% FY22 Q1 FY22 Q2 FY22 Q3 FY22 Q4 Revenue growth, TTM YoY, FY22 Q1: 0.0% Revenue growth, TTM YoY, FY22 Q2: 0.0% Revenue growth, TTM YoY, FY22 Q3: 0.0% Revenue growth, TTM YoY, FY22 Q4: 0.0% 0.0%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue growth, TTM YoY
FY22 Q1 0.0%
FY22 Q2 0.0%
FY22 Q3 0.0%
FY22 Q4 0.0%
Operating margin (TTM) Candel Therapeutics, Inc.
-30000% -20000% -10000% 0% FY21 Q1 FY21 Q3 FY22 Q1 FY22 Q4 Operating margin (TTM), FY21 Q1: -13024.2% Operating margin (TTM), FY21 Q2: -15187.1% Operating margin (TTM), FY21 Q3: -19445.2% Operating margin (TTM), FY21 Q4: -20747.6% Operating margin (TTM), FY22 Q1: -24238.7% Operating margin (TTM), FY22 Q2: -27022.6% Operating margin (TTM), FY22 Q3: -27709.7% Operating margin (TTM), FY22 Q4: -28000.8% -28000.8%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Operating margin (TTM)
FY21 Q1 -13024.2%
FY21 Q2 -15187.1%
FY21 Q3 -19445.2%
FY21 Q4 -20747.6%
FY22 Q1 -24238.7%
FY22 Q2 -27022.6%
FY22 Q3 -27709.7%
FY22 Q4 -28000.8%
FCF margin (TTM) Candel Therapeutics, Inc.
-30000% -20000% -10000% 0% FY21 Q2 FY21 Q4 FY22 Q2 FY22 Q4 FCF margin (TTM), FY21 Q2: -13810.5% FCF margin (TTM), FY21 Q3: -17887.1% FCF margin (TTM), FY21 Q4: -19397.6% FCF margin (TTM), FY22 Q1: -21307.3% FCF margin (TTM), FY22 Q2: -23374.2% FCF margin (TTM), FY22 Q3: -25239.5% FCF margin (TTM), FY22 Q4: -26383.9% -26383.9%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period FCF margin (TTM)
FY21 Q2 -13810.5%
FY21 Q3 -17887.1%
FY21 Q4 -19397.6%
FY22 Q1 -21307.3%
FY22 Q2 -23374.2%
FY22 Q3 -25239.5%
FY22 Q4 -26383.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022
Income
Revenue 0 0 0
EBITDA −14 −25 −34
Operating income −14 −26 −35
Net income −18 −36 −19
Diluted EPS −$1.52 −$1.91 −$0.65
Growth (year on year)
Revenue — 0.0% 0.0%
Margins
EBITDA margin <−999% <−999% <−999%
Operating margin <−999% <−999% <−999%
Net margin <−999% <−999% <−999%
Free-cash-flow margin <−999% <−999% <−999%
Cash flow
Cash from operations −9 −22 −31
Capital spending 1 2 1
Free cash flow −11 −24 −33
Stock-based pay 2 3 2
Free cash flow after stock pay −13 −27 −35
Balance sheet
Cash 35 83 70
Total debt 0 1 1
Net debt (negative = net cash) −35 −82 −69
Diluted shares 12m 19m 29m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

Diluted share count
+39.2%
year over year

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated CADL IBIO LSTA CLDX AIM CLNN Median
Revenue, last 12 months $124000 $100000 $100000 $158000 $95000 $197000 $55m
Revenue growth, last 12 months 0.0% −75.0% −90.7% −97.3% −21.5% −31.1% 12.2%
Revenue growth, 3-year average — −62.4% — −63.5% −17.3% −36.9% 13.7%
Revenue growth, latest quarter 0.0% −100.0% −100.0% −97.0% 4.0% 233.3% 10.2%
Gross margin — 59.9% 7.7% — −968.5% 70.1% 82.9%
Operating margin <−999% <−999% <−999% <−999% <−999% <−999% −191.1%
Operating margin, 3-year average — <−999% <−999% <−999% <−999% <−999% −363.5%
Net margin <−999% <−999% <−999% <−999% <−999% <−999% −172.8%
Cash from operations / revenue <−999% <−999% <−999% <−999% <−999% <−999% −168.8%
Free-cash-flow margin <−999% <−999% <−999% <−999% <−999% <−999% −168.1%
Free-cash-flow margin, 3-year average — <−999% <−999% <−999% <−999% <−999% −310.0%
Stock pay / revenue >999% >999% >999% >999% 0.0% >999% 20.7%
Change in share count 39.2% 13.9% 5.1% 4.7% 49.8% 35.4% 8.3%

Median of all 185 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Who owns it

Funds buying and selling
Reported value
$519M
Institutions reporting
138
Shares held vs prior quarter
▲ 16.0%
Positions opened / closed
40 / 13

Top buyers and sellers, Q2 2026: 103 institutions bought and 37 sold ; the biggest buyer was State Street Corp (+2.7M shares) and the biggest seller Vestal Point Capital, LP (−1.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $113M 11.0M 21.8% 0.0%
RTW Investments, LP $66.1M 6.4M 12.7% 0.0%
Blackrock, Inc. $51.2M 5.0M 9.9% ▲ 59.8%
State Street Corp $36.6M 3.5M 7.0% ▲ 333.7%
Acorn Capital Advisors, LLC $36M 3.5M 6.9% 0.0%
Portolan Capital Management, LLC $36M 3.5M 6.9% ▲ 20.6%
Saturn V Capital Management LP $34M 3.3M 6.6% ▲ 14.1%
Vanguard Capital Management LLC $27.7M 2.7M 5.3% ▲ 9.4%
Geode Capital Management, LLC $16.2M 1.6M 3.1% ▲ 51.7%
Millennium Management LLC $11.3M 1.1M 2.2% ▲ 3.2%
Halter Ferguson Financial Inc. $8M 772K 1.5% ▼ 14.6%
Northern Trust Corp $5.1M 492K 1.0% ▲ 52.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Candel Therapeutics, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $3M 1 trade by 1 insider, last 12 months Insider sales History → $3.6M 5 trades by 3 insiders · 100% under pre-set plans
Net ▼ $551,084 net selling
Insider Date Trade Shares Price Value
Tak Paul Peter Chief Executive Officer September 11, 2026 Sell pre-set plan 59,379 $10.46 $621,104
Tak Paul Peter Chief Executive Officer September 10, 2026 Sell pre-set plan 220,866 $11.50 $2.5M
Tyagarajan Seshu Chief Technology Officer August 17, 2026 Sell pre-set plan 7,000 $12.00 $84,000
Tyagarajan Seshu Chief Technology Officer June 29, 2026 Sell pre-set plan 7,000 $10.02 $70,140
Barone Francesca Chief Scientific Officer June 29, 2026 Sell pre-set plan 23,447 $10.06 $235,877
Manning Paul B Director February 23, 2026 Buy 550,458 $5.45 $3M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • August 13, 2026
  • May 14, 2026
  • March 12, 2026
  • February 19, 2026
  • November 13, 2025
  • October 14, 2025

Recent SEC filings

Data status

When each part of this page on Candel Therapeutics, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Candel Therapeutics, Inc. in brief

What does Candel Therapeutics, Inc. do?
Candel Therapeutics, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Candel Therapeutics, Inc.'s stock ticker?
Candel Therapeutics, Inc. trades under the ticker CADL on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Candel Therapeutics, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, RTW Investments, LP and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Candel Therapeutics, Inc.'s market cap?
On December 30, 2022, Candel Therapeutics, Inc.'s market capitalisation was about $51.6M and net debt of -$69.4M. Market figures come from third-party market data and may be delayed.
Who are Candel Therapeutics, Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Candel Therapeutics, Inc. are Ibio, Inc., Lisata Therapeutics, Inc., Celldex Therapeutics, Inc., AIM Immunotech Inc. and Clene Inc. The side-by-side comparison below sets their revenue, margins and growth against Candel Therapeutics, Inc.'s.
Are insiders buying or selling Candel Therapeutics, Inc. stock?
Over the last 12 months, Candel Therapeutics, Inc.'s directors and officers reported 1 open-market purchases and 5 sales on Form 4. The insider trading page charts every trade.
When is Candel Therapeutics, Inc.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Candel Therapeutics, Inc. announces its own schedule.