What is the 13F Pro Quality Score for CADL?

13F Pro ranks Candel Therapeutics, Inc. (CADL) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View CADL's current score at https://13fpro.ai/research/CADL (free sign-up required for the full ranking).

Which hedge funds own the most CADL stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of CADL include FMR, RTW INVESTMENTS,, ACORN CAPITAL ADVISORS,. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/CADL as soon as new 13F filings post.

Where does 13F Pro source CADL data?

All Candel Therapeutics, Inc. fundamentals and ownership data come directly from SEC EDGAR. Candel Therapeutics, Inc. files with the SEC under CIK 1841387. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is CADL in?

Candel Therapeutics, Inc. (CADL) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is CADL research updated on 13F Pro?

CADL's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Candel Therapeutics, Inc.(CADL)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Below size threshold

Quality rankings require at least $50M annual revenue or $250M total assets to filter out micro-caps and shell companies. This company reported $0.1M in revenue.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

CADL Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Candel Therapeutics, Inc. (CADL), a Healthcare sector company. CADL is not currently included in 13F Pro's AI-ranked quality universe — quality rankings require at least $50m annual revenue or $250m total assets to filter out micro-caps and shell companies. this company reported $0.1m in revenue. Based on the latest XBRL financial filings (Q1 2026), Candel Therapeutics, Inc. reports net income of $-8.9M, free cash flow of $-18.7M. Top institutional holders of CADL by reported 13-F value include FMR, RTW INVESTMENTS,, ACORN CAPITAL ADVISORS,, based on the most recent SEC filings. CADL trades on the Nasdaq exchange and files with the SEC under CIK 1841387. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CADL daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Candel Therapeutics, Inc. directly from SEC EDGAR.

Net Income

Q1 2026

$-8.9M

Free Cash Flow

Q1 2026

$-18.7M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

—FY 2025

FY22 $125.0KFY23 —FY24 —FY25 —

Net Income

+30.8% YoY

$-38.2MFY 2025

FY22 $-18.8MFY23 $-37.9MFY24 $-55.2MFY25 $-38.2M

Operating Income

-44.6% YoY

$-48.3MFY 2025

FY22 $-34.7MFY23 $-38.4MFY24 $-33.4MFY25 $-48.3M

EPS (Diluted)

+58.6% YoY

$-0.72FY 2025

FY22 $-0.65FY23 $-1.31FY24 $-1.74FY25 $-0.72

Total Assets

+17.2% YoY

$125.2MFY 2025

FY22 $77.7MFY23 $41.2MFY24 $106.9MFY25 $125.2M

Total Debt

-100.0% YoY

$0.00FY 2025

FY22 —FY23 $20.5MFY24 $11.6MFY25 $0.00

Op. Cash Flow

-41.8% YoY

$-38.3MFY 2025

FY22 $-31.4MFY23 $-34.2MFY24 $-27.0MFY25 $-38.3M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	—	—	—	$125.0K +0.0%	$125.0K +0.0%	$125.0K
Net Income	$-38.2M +30.8%	$-55.2M -45.4%	$-37.9M -101.9%	$-18.8M +48.0%	$-36.1M -104.3%	$-17.7M
Operating Income	$-48.3M -44.6%	$-33.4M +13.1%	$-38.4M -10.6%	$-34.7M -35.0%	$-25.7M -86.3%	$-13.8M
EPS (Diluted)	$-0.72 +58.6%	$-1.74 -32.8%	$-1.31 -101.5%	$-0.65 +66.0%	$-1.91	—
Total Assets	$125.2M +17.2%	$106.9M +159.4%	$41.2M -47.0%	$77.7M -12.9%	$89.2M +133.0%	$38.3M
Total Debt	$0.00 -100.0%	$11.6M -43.3%	$20.5M	—	$560.0K +15.9%	$483.0K
Operating Cash Flow	$-38.3M -41.8%	$-27.0M +21.1%	$-34.2M -9.0%	$-31.4M -41.4%	$-22.2M -144.9%	$-9.1M

AI Insight: CADL Financial Trends

Cash burn accelerated sharply in Q1 2026 while operating losses widened, despite equity injection suggesting financing distress.

• Operating income deteriorated from -$8M in Q4 2024 to -$16M in Q1 2026, a 100% decline over five quarters.

• Operating cash flow worsened from -$6M in Q2 2024 to -$18M in Q1 2026, tripling cash burn rate.

• Equity swung from -$10M deficit in Q2 2024 to +$138M in Q1 2026, driven by dilutive capital raises.

⚠ Total debt collapsed from $17M to $0M while equity surged $138M—signals forced restructuring or emergency financing.

⚠ Q1 2026 net income -$9M despite prior-quarter -$29M loss; no revenue reported across all periods suggests pre-commercial stage.

AI Insight: CADL Ratio Trends

Candel remains unprofitable across all return metrics; ROIC deteriorated to -47.2% in Q1 2026 after volatile swings through 2025.

• ROA worsened to -17.5% in Q1 2026 from -18.1% in Q2 2025, reflecting persistent asset base losses and negative earnings.

• Leverage collapsed from D/E 0.18 in Q4 2024 to 0.00 by Q4 2025, indicating shareholder capital erosion or equity raise.

• ROIC swung from -38.8% (Q1 2025) to -62.6% (Q3 2025) to -47.2% (Q1 2026), showing extreme volatility and no profitable deployment.

⚠ Q4 2025 ROA plummeted to -94.2%, the worst reading in dataset; recovery trajectory unclear heading into Q2 2026.

⚠ Absence of operating margin and net profit margin data limits visibility into revenue generation and cost control improvements.

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Available Research

13F Pro tracks comprehensive data for Candel Therapeutics, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of CADL

FMR LLC
$53.8M10,987,017 sh
RTW INVESTMENTS, LP
$31.5M6,422,018 sh
ACORN CAPITAL ADVISORS, LLC
$17.2M3,497,948 sh
BlackRock, Inc.
$15.2M3,109,042 sh
Saturn V Capital Management LP
$14.2M2,896,588 sh
Portolan Capital Management, LLC
$14.2M2,894,325 sh
VANGUARD CAPITAL MANAGEMENT LLC
$12.1M2,462,757 sh
Vestal Point Capital, LP
$5.5M1,125,000 sh
MILLENNIUM MANAGEMENT LLC
$5.2M1,060,086 sh
GEODE CAPITAL MANAGEMENT, LLC
$5.1M1,035,435 sh

Fund	Value	Shares
FMR LLC	$53.8M	10,987,017
RTW INVESTMENTS, LP	$31.5M	6,422,018
ACORN CAPITAL ADVISORS, LLC	$17.2M	3,497,948
BlackRock, Inc.	$15.2M	3,109,042
Saturn V Capital Management LP	$14.2M	2,896,588
Portolan Capital Management, LLC	$14.2M	2,894,325
VANGUARD CAPITAL MANAGEMENT LLC	$12.1M	2,462,757
Vestal Point Capital, LP	$5.5M	1,125,000
MILLENNIUM MANAGEMENT LLC	$5.2M	1,060,086
GEODE CAPITAL MANAGEMENT, LLC	$5.1M	1,035,435

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Is CADL a good stock to buy?

13F Pro's AI-powered analysis of Candel Therapeutics, Inc. (CADL) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CADL are available on the CADL stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own CADL?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CADL. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Candel Therapeutics, Inc.'s investment landscape.