BlackRock Inc. Purchases New Position in CAMP4 Therapeutics Corporation $CAMP

Key Points

• BlackRock acquired 1.64 million shares of CAMP4 Therapeutics in the second quarter, worth approximately $7.2 million and representing a 3.17% stake.
• Several hedge funds increased or initiated positions, while insider activity was mixed: insiders bought 46,031 shares but sold 593,613 shares over the past 90 days.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $9.56 versus the stock’s $4.41 opening price; however, the company recently missed quarterly EPS estimates, reporting a $0.58 loss per share.

BlackRock Inc. bought a new stake in CAMP4 Therapeutics Corporation (NASDAQ:CAMP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,644,134 shares of the Wireless communications provider's stock, valued at approximately $7,185,000. BlackRock Inc. owned about 3.17% of CAMP4 Therapeutics at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Janus Henderson Group PLC increased its position in shares of CAMP4 Therapeutics by 35.9% during the fourth quarter. Janus Henderson Group PLC now owns 6,307,636 shares of the Wireless communications provider's stock worth $38,807,000 after buying an additional 1,666,666 shares during the period. Vivo Capital LLC increased its position in shares of CAMP4 Therapeutics by 8.3% during the fourth quarter. Vivo Capital LLC now owns 4,246,568 shares of the Wireless communications provider's stock worth $26,031,000 after acquiring an additional 325,000 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in CAMP4 Therapeutics during the fourth quarter worth $14,938,000. Adage Capital Partners GP L.L.C. grew its position in CAMP4 Therapeutics by 11.3% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,181,679 shares of the Wireless communications provider's stock worth $13,374,000 after purchasing an additional 220,895 shares in the last quarter. Finally, SummitTX Capital L.P. bought a new position in CAMP4 Therapeutics during the first quarter valued at about $1,497,000.

Insider Activity

In related news, CFO Kelly Gold bought 10,000 shares of the stock in a transaction on Monday, August 31st. The shares were bought 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 owned 10,000 shares of the company's stock, valued at $39,600. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Young acquired 16,378 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was acquired at an average price of $1.65 per share, for a total transaction of $27,023.70. Following the completion of the transaction, the director directly owned 186,388 shares in the company, valued at approximately $307,540.20. This represents a 9.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 46,031 shares of company stock worth $99,051 and sold 593,613 shares worth $2,504,037. Insiders own 21.69% of the company's stock.

Wall Street Analysts Forecast Growth

CAMP has been the subject of several recent research reports. Weiss Ratings cut CAMP4 Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday. Piper Sandler restated an "overweight" rating and set a $15.00 price target (up from $12.00) on shares of CAMP4 Therapeutics in a research report on Friday, August 14th. Zacks Research upgraded shares of CAMP4 Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, August 17th. JPMorgan Chase & Co. upgraded shares of CAMP4 Therapeutics from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $5.00 to $9.00 in a research note on Tuesday, June 16th. Finally, UBS Group set a $15.00 price target on CAMP4 Therapeutics in a report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, CAMP4 Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $9.56.

CAMP4 Therapeutics Stock Performance

Shares of CAMP opened at $4.41 on Friday. The company's 50-day simple moving average is $4.13 and its 200-day simple moving average is $4.35. CAMP4 Therapeutics Corporation has a 1 year low of $1.46 and a 1 year high of $7.75. The stock has a market capitalization of $276.73 million, a PE ratio of -1.90 and a beta of 0.27.

CAMP4 Therapeutics (NASDAQ:CAMP - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The Wireless communications provider reported ($0.58) earnings per share (EPS) 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 firm had revenue of $1.78 million for the quarter. On average, sell-side analysts predict that CAMP4 Therapeutics Corporation will post -0.57 earnings per share for the current year.

CAMP4 Therapeutics Company Profile

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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