Needham & Company LLC Begins Coverage on CAMP4 Therapeutics (NASDAQ:CAMP)

Key Points

• Needham initiated coverage of CAMP4 Therapeutics with a “Buy” rating and an $8 price target, implying 133.24% upside from the prior close.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy, one Hold, and one Sell, producing a “Moderate Buy” consensus and a $10.50 average price target.
• CAMP4 reported a quarterly loss of $0.58 per share versus the $0.24 consensus estimate, while insiders sold substantially more stock than they bought during the latest quarter.

Equities research analysts at Needham & Company LLC started coverage on shares of CAMP4 Therapeutics (NASDAQ:CAMP - Get Free Report) in a note issued to investors on Thursday, Benzinga reports. The brokerage set a "buy" rating and a $8.00 price target on the Wireless communications provider's stock. Needham & Company LLC's target price would suggest a potential upside of 133.24% from the company's previous close.

Several other equities analysts have also recently weighed in on the company. Piper Sandler reiterated an "overweight" rating and set a $15.00 price objective (up from $12.00) on shares of CAMP4 Therapeutics in a report on Friday, August 14th. Zacks Research raised CAMP4 Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Monday, August 17th. Cantor Fitzgerald reissued an "overweight" rating on shares of CAMP4 Therapeutics in a research note on Tuesday, September 29th. Weiss Ratings downgraded shares of CAMP4 Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, October 2nd. Finally, Chardan Capital cut their price target on shares of CAMP4 Therapeutics from $6.50 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, September 29th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.50.

CAMP4 Therapeutics Price Performance

Shares of CAMP4 Therapeutics stock opened at $3.43 on Thursday. CAMP4 Therapeutics has a 12 month low of $2.86 and a 12 month high of $7.75. The stock's fifty day simple moving average is $4.17 and its 200 day simple moving average is $4.19.

CAMP4 Therapeutics (NASDAQ:CAMP - Get Free Report) last posted its earnings results on Thursday, August 13th. The Wireless communications provider reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.34). 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 $1.78 million for the quarter. As a group, research analysts anticipate that CAMP4 Therapeutics will post -0.66 earnings per share for the current year.

Insider Buying and Selling at CAMP4 Therapeutics

In other news, Director Andrew J. Schwab sold 400,000 shares of CAMP4 Therapeutics stock in a transaction that occurred 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 sale, the director directly owned 2,033,270 shares in the company, valued at $8,214,410.80. This trade represents a 16.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard A. Young acquired 16,378 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was acquired at an average cost of $1.65 per share, for a total transaction of $27,023.70. Following the transaction, the director owned 186,388 shares of the company's stock, valued at $307,540.20. This represents a 9.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 46,031 shares of company stock worth $99,051 and have sold 593,613 shares worth $2,504,037. Company insiders own 21.69% of the company's stock.

Institutional Investors Weigh In On CAMP4 Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAMP. Jupiter Topco LLC bought a new position in shares of CAMP4 Therapeutics in the 2nd quarter valued at about $27,581,000. Trails Edge Capital Partners LP acquired a new position in CAMP4 Therapeutics during the second quarter valued at approximately $8,446,935. SummitTX Capital L.P. acquired a new position in CAMP4 Therapeutics during the first quarter valued at approximately $1,497,000. BlackRock Inc. bought a new position in CAMP4 Therapeutics in the second quarter valued at approximately $7,185,000. Finally, 5AM Venture Management LLC bought a new position in CAMP4 Therapeutics in the second quarter valued at approximately $25,647,928.

CAMP4 Therapeutics Company Profile

CAMP4 Therapeutics Corporation is a clinical-stage biotechnology company focused on developing RNA-based medicines for genetic diseases caused by insufficient production of essential proteins. The company's approach is designed to increase expression of a patient's existing genes rather than replace or edit them.

CAMP4 uses its RegRNA platform to identify regulatory elements in messenger RNA and develop RNA activators, including small activating RNAs, that may stimulate production of targeted proteins.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.