Fmr LLC Raises Holdings in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Fmr LLC increased its stake in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 687.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 185,941 shares of the company’s stock after acquiring an additional 162,314 shares during the period. Fmr LLC owned about 0.26% of C4 Therapeutics worth $1,060,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of C4 Therapeutics during the 2nd quarter worth approximately $660,000. Bank of New York Mellon Corp purchased a new stake in C4 Therapeutics during the second quarter worth $881,000. Hussman Strategic Advisors Inc. acquired a new stake in C4 Therapeutics during the second quarter valued at $194,000. Rhumbline Advisers increased its holdings in C4 Therapeutics by 4,959.8% in the second quarter. Rhumbline Advisers now owns 90,621 shares of the company’s stock valued at $419,000 after buying an additional 88,830 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of C4 Therapeutics by 415.8% in the second quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock worth $524,000 after acquiring an additional 91,443 shares during the period. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Stephens started coverage on C4 Therapeutics in a research report on Monday, November 18th. They set an “equal weight” rating and a $4.00 target price on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.00.

C4 Therapeutics Stock Performance

NASDAQ:CCCC opened at $4.31 on Tuesday. The stock has a market capitalization of $304.24 million, a PE ratio of -2.54 and a beta of 2.92. C4 Therapeutics, Inc. has a fifty-two week low of $3.77 and a fifty-two week high of $11.88. The company has a fifty day moving average of $5.15 and a two-hundred day moving average of $5.47.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Thursday, October 31st. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The business had revenue of $15.36 million during the quarter, compared to analysts’ expectations of $5.95 million. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. Research analysts forecast that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

C4 Therapeutics Company 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.