Candel Therapeutics (Candel Therapeutics (CADL)) gave investors something to cheer about on Friday when it presented new data at the American Urological Association's annual meeting. The company shared extended follow-up results from a pivotal phase 3 trial of its viral immunotherapy, aglatimagene besadenovec, in patients with localized prostate cancer. The headline number: a 39% improvement in disease-free survival compared to placebo.
Dr. Mark G. Garzotto presented the data, which showed benefits across multiple endpoints and reinforced earlier positive topline results. For a clinical-stage biopharma company, that's exactly the kind of news that can keep the momentum going. The idea behind Candel's approach is to use off-the-shelf viral immunotherapies to train the body's immune system to recognize and attack tumors — turning cold tumors hot, as the company puts it.
But while the science is compelling, the stock's recent run has been nothing short of impressive. Over the past 12 months, shares are up nearly 64%. They're currently trading at $8.81, well above the 20-day simple moving average of $7.48. That's a bullish signal, but it also means the stock is extended. The Relative Strength Index (RSI) sits at 74.72, which is firmly in overbought territory. That doesn't mean the stock is about to crash, but it does suggest that the easy money may have already been made in the short term. A consolidation or pullback wouldn't be surprising.
Key resistance is at $9.27, the 52-week high from earlier this month. On the downside, $7.48 (the 20-day SMA) is the first level of support to watch. If the stock pulls back, that's where buyers might step in.
Despite the positive news, broader markets were down on Friday — the Dow and S&P 500 fell 1.43% and 1.45%, respectively. Candel's stock managed to eke out a 0.46% gain, which shows some relative strength, but it's worth noting that the overall market mood was sour.
Looking ahead, Candel is expected to report its next quarterly results on August 13, 2026. Analysts are modeling a loss of 33 cents per share, wider than the prior loss of 9 cents, and revenue of $0.00 million — typical for a pre-commercial biotech. The analyst consensus is a Buy, with an average price target of $20.00. Recent moves include Cantor Fitzgerald initiating coverage with an Overweight rating on April 20, and Citigroup raising its price target to $26.00 on March 18 before lowering it to $22.00 on March 13.
On MarketDash's momentum scorecard, Candel scores a 93.47 out of 100, which is firmly bullish. That kind of momentum can attract more investors, but it also means the stock is pricing in a lot of good news. The key question is whether the clinical data will continue to support the story — and whether the broader market will cooperate.
