CAMP4 Therapeutics Corporation (NASDAQ:CAMP) Short Interest Up 229.0% in June

Key Points

• Short interest in CAMP4 Therapeutics surged 229% in June, rising to 1.31 million shares by June 30 from 398,648 shares two weeks earlier. That represents about 3.2% of the company’s shares sold short and a 2.3-day days-to-cover ratio.
• The stock last traded at $4.33, near its 50-day moving average of $4.26 and below its 200-day moving average of $4.61. CAMP4 Therapeutics has a market cap of about $224.8 million and has traded between $1.32 and $7.75 over the past year.
• Analysts remain broadly bullish despite recent losses, with seven Buy ratings and one Sell and an average target price of $8.36. The company most recently reported a quarterly EPS loss of $0.32, worse than expectations, on revenue of $1.29 million.

CAMP4 Therapeutics Corporation (NASDAQ:CAMP - Get Free Report) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 1,311,363 shares, a growth of 229.0% from the June 15th total of 398,648 shares. Based on an average trading volume of 559,861 shares, the days-to-cover ratio is presently 2.3 days. Approximately 3.2% of the shares of the company are sold short.

Institutional Investors Weigh In On CAMP4 Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CAMP. Vivo Capital LLC bought a new stake in shares of CAMP4 Therapeutics in the third quarter valued at approximately $11,765,000. Balyasny Asset Management L.P. bought a new position in CAMP4 Therapeutics during the 4th quarter worth $14,938,000. Janus Henderson Group PLC raised its holdings in CAMP4 Therapeutics by 35.9% in the 4th quarter. Janus Henderson Group PLC now owns 6,307,636 shares of the Wireless communications provider's stock valued at $38,807,000 after acquiring an additional 1,666,666 shares in the last quarter. SummitTX Capital L.P. acquired a new position in CAMP4 Therapeutics in the 1st quarter valued at $1,497,000. Finally, EcoR1 Capital LLC bought a new stake in shares of CAMP4 Therapeutics during the 4th quarter valued at $1,992,000.

CAMP4 Therapeutics Stock Performance

Shares of CAMP4 Therapeutics stock opened at $4.33 on Monday. The firm has a 50-day moving average of $4.26 and a 200-day moving average of $4.61. CAMP4 Therapeutics has a 52-week low of $1.32 and a 52-week high of $7.75. The stock has a market cap of $224.84 million, a PE ratio of -1.83 and a beta of 0.10.

CAMP4 Therapeutics (NASDAQ:CAMP - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The Wireless communications provider reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.11). The business had revenue of $1.29 million for the quarter. CAMP4 Therapeutics had a negative return on equity of 194.74% and a negative net margin of 2,193.72%. Equities research analysts predict that CAMP4 Therapeutics will post -0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CAMP shares. Rodman & Renshaw began coverage on CAMP4 Therapeutics in a research note on Tuesday, April 14th. They issued a "buy" rating and a $7.00 price target on the stock. Weiss Ratings cut shares of CAMP4 Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, May 21st. Leerink Partners upped their price objective on shares of CAMP4 Therapeutics from $8.00 to $9.00 and gave the company an "outperform" rating in a report on Thursday, April 2nd. JPMorgan Chase & Co. raised shares of CAMP4 Therapeutics from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $5.00 to $9.00 in a research report on Tuesday, June 16th. Finally, Chardan Capital set a $6.50 target price on shares of CAMP4 Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, CAMP4 Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $8.36.

About CAMP4 Therapeutics

CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products. It provides CalAmp Telematics Cloud platform, such as cloud-based application enablement and telematics service platforms that facilitate integration of its own applications, as well as those of third parties, through open application programming interfaces; and software as a service application, as well as provides tracking and monitoring services within fleet management, supply chain integrity, and international vehicle location.

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