Alps Advisors Inc. Buys New Shares in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Alps Advisors Inc. bought a new stake in C4 Therapeutics, Inc. (NASDAQ:CCCCGet Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,950 shares of the company’s stock, valued at approximately $218,000. Alps Advisors Inc. owned 0.06% of C4 Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tortoise Investment Management LLC acquired a new position in shares of C4 Therapeutics in the 1st quarter valued at $45,000. Point72 Hong Kong Ltd boosted its holdings in C4 Therapeutics by 89.7% in the first quarter. Point72 Hong Kong Ltd now owns 3,815 shares of the company’s stock valued at $93,000 after purchasing an additional 1,804 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in C4 Therapeutics in the first quarter valued at $93,000. Fox Run Management L.L.C. purchased a new stake in C4 Therapeutics in the first quarter valued at $217,000. Finally, Hsbc Holdings PLC purchased a new stake in C4 Therapeutics in the first quarter valued at $251,000. 80.43% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Stock Down 16.2 %

Shares of NASDAQ CCCC opened at $7.86 on Thursday. The company has a 50 day simple moving average of $9.04 and a 200-day simple moving average of $8.96. The company has a market capitalization of $384.80 million, a P/E ratio of -4.32 and a beta of 1.97. The company has a debt-to-equity ratio of 0.03, a current ratio of 7.19 and a quick ratio of 7.19. C4 Therapeutics, Inc. has a 1 year low of $4.84 and a 1 year high of $38.37.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of C4 Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $15.00 in a report on Friday, November 4th. Morgan Stanley began coverage on shares of C4 Therapeutics in a report on Tuesday, October 11th. They issued an “underweight” rating and a $6.00 price target on the stock. Credit Suisse Group increased their target price on shares of C4 Therapeutics to $12.00 in a research note on Tuesday, August 9th. Wells Fargo & Company decreased their price target on shares of C4 Therapeutics from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 8th. Finally, SVB Leerink reaffirmed an “outperform” rating on shares of C4 Therapeutics in a research note on Wednesday, October 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.11.

C4 Therapeutics Profile

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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.

See Also

Institutional Ownership by Quarter for C4 Therapeutics (NASDAQ:CCCC)

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