Wasatch Advisors LP Raises Stake in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Wasatch Advisors LP lifted its position in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,072,601 shares of the company’s stock after purchasing an additional 395,233 shares during the period. Wasatch Advisors LP owned about 8.60% of C4 Therapeutics worth $21,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sei Investments Co. purchased a new position in shares of C4 Therapeutics in the fourth quarter worth $45,000. Kazazian Asset Management LLC bought a new stake in C4 Therapeutics in the 4th quarter valued at $51,000. China Universal Asset Management Co. Ltd. purchased a new stake in C4 Therapeutics in the 4th quarter worth $54,000. Y Intercept Hong Kong Ltd bought a new position in shares of C4 Therapeutics during the 4th quarter valued at about $83,000. Finally, Intech Investment Management LLC boosted its holdings in shares of C4 Therapeutics by 11.1% during the 4th quarter. Intech Investment Management LLC now owns 30,150 shares of the company’s stock valued at $109,000 after purchasing an additional 3,024 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors.

C4 Therapeutics Stock Performance

NASDAQ CCCC opened at $1.10 on Thursday. The company has a market cap of $78.09 million, a P/E ratio of -0.65 and a beta of 3.11. The business’s 50 day moving average price is $2.15 and its 200-day moving average price is $3.75. C4 Therapeutics, Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $7.66.

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

Analysts Set New Price Targets

Several research firms have weighed in on CCCC. Wells Fargo & Company upgraded C4 Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $8.00 to $12.00 in a report on Thursday, December 19th. UBS Group upgraded shares of C4 Therapeutics to a “hold” rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, C4 Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

C4 Therapeutics Profile

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.