CAMP4 Therapeutics Corporation (NASDAQ:CAMP – Get Free Report)’s stock price crossed above its fifty day moving average during trading on Friday following a stronger than expected earnings report. The stock has a fifty day moving average of $3.84 and traded as high as $4.06. CAMP4 Therapeutics shares last traded at $4.06, with a volume of 128,677 shares trading hands.
The Wireless communications provider reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.17). CAMP4 Therapeutics had a negative return on equity of 252.79% and a negative net margin of 2,543.74%. The business had revenue of $1.90 million during the quarter.
Analyst Upgrades and Downgrades
Several research analysts have commented on CAMP shares. Oppenheimer initiated coverage on shares of CAMP4 Therapeutics in a report on Monday, October 5th. They set an “outperform” rating and a $15.00 price target for the company. Chardan Capital cut their price target on CAMP4 Therapeutics from $6.50 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, September 29th. Needham & Company LLC assumed coverage on CAMP4 Therapeutics in a report on Thursday, October 15th. They set a “buy” rating and a $8.00 price target for the company. Weiss Ratings raised CAMP4 Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. Finally, Raymond James Financial assumed coverage on CAMP4 Therapeutics in a research report on Friday, October 23rd. They set a “strong-buy” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.44.
Read Our Latest Analysis on CAMP
Insider Activity at CAMP4 Therapeutics
In other CAMP4 Therapeutics news, CFO Kelly Gold purchased 10,000 shares of the stock in a transaction dated Monday, August 31st. The shares were acquired at an average cost of $3.96 per share, for a total transaction of $39,600.00. Following the completion of the transaction, the chief financial officer directly owned 10,000 shares of the company’s stock, valued at $39,600. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Andrew J. Schwab sold 400,000 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $4.04, for a total value of $1,616,000.00. Following the completion of the transaction, the director owned 2,033,270 shares of the company’s stock, valued at $8,214,410.80. This trade represents a 16.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 593,613 shares of company stock worth $2,504,037. 21.69% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On CAMP4 Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new stake in shares of CAMP4 Therapeutics in the 2nd quarter valued at about $78,000. Deutsche Bank AG acquired a new stake in shares of CAMP4 Therapeutics during the 2nd quarter valued at approximately $138,000. Bank of New York Mellon Corp acquired a new stake in shares of CAMP4 Therapeutics during the second quarter worth $365,000. SummitTX Capital L.P. acquired a new position in shares of CAMP4 Therapeutics in the 1st quarter valued at about $1,497,000. Finally, BlackRock Inc. bought a new position in CAMP4 Therapeutics in the second quarter worth about $7,185,000.
CAMP4 Therapeutics Stock Up 9.1%
The stock has a 50 day simple moving average of $3.84 and a 200 day simple moving average of $4.20. The company has a market capitalization of $254.76 million, a price-to-earnings ratio of -1.90 and a beta of 0.28.
CAMP4 Therapeutics Company Profile
CAMP4 Therapeutics Corporation is a clinical-stage biotechnology company focused on developing medicines that increase the production of disease-relevant proteins by activating the expression of specific genes. The company’s approach is designed to address diseases caused by insufficient protein levels, including certain genetic disorders in which boosting activity from a functional gene copy may provide therapeutic benefit.
CAMP4 uses its Regulatory Action Platform, or RAP, to identify regulatory elements that control RNA production and discover small-molecule compounds capable of increasing the expression of selected genes.
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