Seven Fleet Capital Management LP Acquires 324,093 Shares of C4 Therapeutics, Inc. $CCCC

Seven Fleet Capital Management LP boosted its holdings in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 567.8% in the second quarter, Holdings Channel.com reports. The fund owned 381,169 shares of the company’s stock after acquiring an additional 324,093 shares during the quarter. Seven Fleet Capital Management LP’s holdings in C4 Therapeutics were worth $1,780,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of C4 Therapeutics by 957.6% during the first quarter. AQR Capital Management LLC now owns 140,532 shares of the company’s stock worth $225,000 after purchasing an additional 127,244 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of C4 Therapeutics by 8.6% in the first quarter. Goldman Sachs Group Inc. now owns 622,720 shares of the company’s stock worth $996,000 after purchasing an additional 49,065 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of C4 Therapeutics in the first quarter worth about $43,000. XTX Topco Ltd grew its holdings in shares of C4 Therapeutics by 170.0% in the second quarter. XTX Topco Ltd now owns 108,278 shares of the company’s stock worth $155,000 after purchasing an additional 68,178 shares during the last quarter. Finally, Invesco Ltd. increased its stake in C4 Therapeutics by 11.1% in the 2nd quarter. Invesco Ltd. now owns 155,017 shares of the company’s stock worth $222,000 after buying an additional 15,531 shares during the period. Institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Stock Up 1.0%

Shares of NASDAQ:CCCC opened at $4.24 on Thursday. C4 Therapeutics, Inc. has a 52-week low of $1.69 and a 52-week high of $5.17. The stock has a market cap of $521.65 million, a P/E ratio of -4.24 and a beta of 2.91. The business’s 50 day moving average is $3.97 and its 200 day moving average is $3.32.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.05. The company had revenue of $6.64 million for the quarter, compared to the consensus estimate of $4.00 million. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. On average, sell-side analysts anticipate that C4 Therapeutics, Inc. will post -0.85 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.75.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.