Kazazian Asset Management LLC Invests $51,000 in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Kazazian Asset Management LLC bought a new position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,250 shares of the company’s stock, valued at approximately $51,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CCCC. Point72 DIFC Ltd acquired a new stake in shares of C4 Therapeutics during the third quarter worth $51,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of C4 Therapeutics during the fourth quarter worth $54,000. Cynosure Group LLC acquired a new stake in shares of C4 Therapeutics during the third quarter worth $57,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of C4 Therapeutics during the fourth quarter worth $83,000. Finally, Intech Investment Management LLC lifted its holdings in shares of C4 Therapeutics by 11.1% during the fourth quarter. Intech Investment Management LLC now owns 30,150 shares of the company’s stock worth $109,000 after buying an additional 3,024 shares in the last quarter. Institutional investors and hedge funds own 78.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company raised C4 Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $12.00 in a research note on Thursday, December 19th. UBS Group raised C4 Therapeutics to a “hold” rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

C4 Therapeutics Price Performance

Shares of CCCC stock opened at $2.08 on Wednesday. The business’s 50 day simple moving average is $3.13 and its 200 day simple moving average is $4.45. C4 Therapeutics, Inc. has a one year low of $1.95 and a one year high of $9.19. The stock has a market capitalization of $147.66 million, a PE ratio of -1.22 and a beta of 2.99.

C4 Therapeutics (NASDAQ:CCCC) last issued its earnings results on Thursday, February 27th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). The firm had revenue of $5.18 million for the quarter, compared to analyst estimates of $4.43 million. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. As a group, research analysts expect that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

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.