Raymond James & Associates Has $571,000 Holdings in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Raymond James & Associates increased its holdings in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,984 shares of the company’s stock after buying an additional 9,604 shares during the quarter. Raymond James & Associates’ holdings in C4 Therapeutics were worth $571,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in C4 Therapeutics during the 4th quarter worth $49,000. Barclays PLC raised its stake in C4 Therapeutics by 30.7% during the 3rd quarter. Barclays PLC now owns 43,614 shares of the company’s stock worth $81,000 after buying an additional 10,246 shares during the period. Citigroup Inc. raised its stake in C4 Therapeutics by 214.6% during the 3rd quarter. Citigroup Inc. now owns 57,894 shares of the company’s stock worth $108,000 after buying an additional 39,492 shares during the period. Harbor Capital Advisors Inc. raised its stake in C4 Therapeutics by 20.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 70,703 shares of the company’s stock worth $132,000 after buying an additional 12,056 shares during the period. Finally, M&T Bank Corp bought a new position in C4 Therapeutics during the 3rd quarter worth about $260,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

C4 Therapeutics Price Performance

Shares of NASDAQ CCCC opened at $6.24 on Friday. The stock has a market capitalization of $428.06 million, a price-to-earnings ratio of -2.34 and a beta of 3.18. The business has a 50-day moving average of $8.53 and a 200-day moving average of $5.42. C4 Therapeutics, Inc. has a fifty-two week low of $1.06 and a fifty-two week high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.01). C4 Therapeutics had a negative net margin of 638.34% and a negative return on equity of 55.30%. The company had revenue of $3.26 million during the quarter, compared to the consensus estimate of $5.23 million. On average, sell-side analysts expect that C4 Therapeutics, Inc. will post -1.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CCCC shares. Stifel Nicolaus reiterated a “buy” rating and set a $13.00 target price (up previously from $12.00) on shares of C4 Therapeutics in a report on Friday, February 23rd. Morgan Stanley increased their target price on C4 Therapeutics to $8.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. upgraded C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 target price for the company in a report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

About C4 Therapeutics

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.