C4 Therapeutics, Inc. (NASDAQ:CCCC) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its holdings in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 331.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,201,848 shares of the company’s stock after purchasing an additional 923,268 shares during the period. Point72 Asset Management L.P.’s holdings in C4 Therapeutics were worth $6,851,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CCCC. Lynx1 Capital Management LP raised its holdings in C4 Therapeutics by 89.3% in the second quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock valued at $31,788,000 after acquiring an additional 3,245,865 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of C4 Therapeutics by 17.1% in the 3rd quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company’s stock valued at $32,361,000 after purchasing an additional 830,218 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of C4 Therapeutics by 46.0% during the first quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock worth $23,857,000 after purchasing an additional 920,627 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in C4 Therapeutics by 6.0% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,319,484 shares of the company’s stock worth $7,521,000 after purchasing an additional 75,126 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in C4 Therapeutics by 34.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 192,364 shares of the company’s stock valued at $1,096,000 after buying an additional 49,532 shares during the last quarter. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Stock Up 13.3 %

Shares of NASDAQ CCCC opened at $4.42 on Monday. The firm’s 50-day moving average price is $5.28 and its two-hundred day moving average price is $5.51. C4 Therapeutics, Inc. has a 52-week low of $1.12 and a 52-week high of $11.88. The stock has a market capitalization of $312.01 million, a P/E ratio of -2.60 and a beta of 2.92.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.05. The business had revenue of $15.36 million for the quarter, compared to the consensus estimate of $5.95 million. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. As a group, equities research analysts expect that C4 Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Stephens began coverage on C4 Therapeutics in a report on Monday, November 18th. They set an “equal weight” rating and a $4.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.00.

About C4 Therapeutics

C4 Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins for the treatment of cancer, neurodegenerative conditions, and other diseases. Its lead product candidate is CFT7455, an orally bioavailable MonoDAC degrader of protein that is in Phase 1/2 trial targeting IKZF1 and IKZF3 for multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma, currently under Phase 1/2 clinical trials.