C4 Therapeutics, Inc. (NASDAQ:CCCC) Shares Bought by Fmr LLC

Fmr LLC raised its holdings in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 687.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 185,941 shares of the company’s stock after purchasing an additional 162,314 shares during the quarter. Fmr LLC’s holdings in C4 Therapeutics were worth $1,060,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC grew its stake in C4 Therapeutics by 415.8% during the 2nd quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock valued at $524,000 after acquiring an additional 91,443 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of C4 Therapeutics during the 2nd quarter worth approximately $881,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of C4 Therapeutics in the second quarter valued at approximately $660,000. Lynx1 Capital Management LP increased its holdings in shares of C4 Therapeutics by 89.3% in the second quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock valued at $31,788,000 after purchasing an additional 3,245,865 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new stake in shares of C4 Therapeutics in the second quarter valued at approximately $194,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

C4 Therapeutics Stock Performance

CCCC stock opened at $4.31 on Tuesday. The firm has a market cap of $304.24 million, a PE ratio of -2.54 and a beta of 2.92. C4 Therapeutics, Inc. has a one year low of $3.77 and a one year high of $11.88. The firm’s 50 day moving average price is $5.15 and its 200-day moving average price is $5.47.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. The business had revenue of $15.36 million for the quarter, compared to analyst estimates of $5.95 million. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. Equities research analysts predict that C4 Therapeutics, Inc. will post -1.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Stephens assumed coverage on C4 Therapeutics in a report on Monday, November 18th. They issued an “equal weight” rating and a $4.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, C4 Therapeutics currently has an average rating of “Hold” and an average price target of $10.00.

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.