C4 Therapeutics, Inc. $CCCC Stock Bought by Candriam S.C.A.

Candriam S.C.A. raised its holdings in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 53.6% during the third quarter, Holdings Channel.com reports. The firm owned 2,760,346 shares of the company’s stock after purchasing an additional 963,409 shares during the period. Candriam S.C.A.’s holdings in C4 Therapeutics were worth $9,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its holdings in shares of C4 Therapeutics by 44.2% during the 3rd quarter. Alps Advisors Inc. now owns 161,828 shares of the company’s stock worth $539,000 after purchasing an additional 49,614 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in C4 Therapeutics by 27.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 22,447 shares of the company’s stock valued at $70,000 after buying an additional 4,850 shares during the last quarter. Congress Asset Management Co. lifted its position in C4 Therapeutics by 25.2% in the third quarter. Congress Asset Management Co. now owns 1,256,692 shares of the company’s stock valued at $4,185,000 after buying an additional 253,255 shares during the last quarter. Squarepoint Ops LLC lifted its position in C4 Therapeutics by 320.1% in the second quarter. Squarepoint Ops LLC now owns 170,834 shares of the company’s stock valued at $798,000 after buying an additional 130,170 shares during the last quarter. Finally, Seven Fleet Capital Management LP lifted its position in C4 Therapeutics by 567.8% in the second quarter. Seven Fleet Capital Management LP now owns 381,169 shares of the company’s stock valued at $1,780,000 after buying an additional 324,093 shares during the last quarter. Hedge funds and other institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Stock Performance

NASDAQ CCCC opened at $3.15 on Tuesday. The firm has a 50 day simple moving average of $3.21 and a 200-day simple moving average of $3.23. The firm has a market cap of $387.54 million, a price-to-earnings ratio of -4.37 and a beta of 3.16. C4 Therapeutics, Inc. has a one year low of $1.69 and a one year high of $5.17.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.03. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. The business had revenue of $8.47 million for the quarter, compared to analysts’ expectations of $8.52 million. Equities analysts predict that C4 Therapeutics, Inc. will post -0.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CCCC. Evercore downgraded shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 2nd. Guggenheim started coverage on shares of C4 Therapeutics in a research report on Friday. They set a “buy” rating and a $6.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Thursday, October 15th. Lake Street Capital assumed coverage on C4 Therapeutics in a research report on Wednesday, October 28th. They set a “buy” rating and a $11.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on C4 Therapeutics in a report on Friday, October 9th. They issued an “overweight” rating and a $10.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary TORPEDO platform to design targeted protein degraders, which are intended to direct specific proteins to the cell’s natural disposal system rather than simply blocking their activity.

C4 Therapeutics has concentrated its research and development efforts primarily on oncology, including programs aimed at genetically defined cancers and difficult-to-treat tumors.