Wasatch Advisors LP Sells 1,383,157 Shares of C4 Therapeutics, Inc. $CCCC

Wasatch Advisors LP lowered its position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 31.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,961,761 shares of the company’s stock after selling 1,383,157 shares during the period. Wasatch Advisors LP’s holdings in C4 Therapeutics were worth $7,789,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Zacks Investment Management purchased a new stake in shares of C4 Therapeutics in the third quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of C4 Therapeutics during the 3rd quarter valued at $43,000. Delta Investment Management LLC bought a new position in C4 Therapeutics in the 4th quarter worth $38,000. Virtu Financial LLC bought a new position in C4 Therapeutics in the 4th quarter worth $39,000. Finally, Engineers Gate Manager LP increased its stake in C4 Therapeutics by 49.9% in the 4th quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock worth $47,000 after buying an additional 8,130 shares in the last quarter. 78.81% of the stock is currently owned by institutional investors.

C4 Therapeutics Stock Performance

Shares of NASDAQ:CCCC opened at $4.26 on Friday. The firm has a fifty day moving average price of $3.54 and a 200 day moving average price of $2.78. C4 Therapeutics, Inc. has a fifty-two week low of $1.39 and a fifty-two week high of $4.60. The firm has a market cap of $471.03 million, a price-to-earnings ratio of -3.58 and a beta of 2.92.

C4 Therapeutics (NASDAQ:CCCC) last posted its earnings results on Tuesday, May 12th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.05. The company had revenue of $6.15 million during the quarter, compared to analysts’ expectations of $4.42 million. C4 Therapeutics had a negative net margin of 297.76% and a negative return on equity of 50.68%. As a group, research analysts predict that C4 Therapeutics, Inc. will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CCCC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a report on Monday, April 20th. Wall Street Zen upgraded C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.75.

C4 Therapeutics Profile

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.