Balyasny Asset Management L.P. Raises Position in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Balyasny Asset Management L.P. lifted its stake in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 115.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,533 shares of the company’s stock after acquiring an additional 22,789 shares during the quarter. Balyasny Asset Management L.P. owned 0.06% of C4 Therapeutics worth $153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CCCC. Hennion & Walsh Asset Management Inc. increased its holdings in C4 Therapeutics by 18.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 227,147 shares of the company’s stock worth $818,000 after purchasing an additional 34,783 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of C4 Therapeutics during the fourth quarter worth approximately $54,000. Rhumbline Advisers increased its stake in shares of C4 Therapeutics by 4.6% during the fourth quarter. Rhumbline Advisers now owns 100,015 shares of the company’s stock worth $360,000 after buying an additional 4,366 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in C4 Therapeutics in the fourth quarter valued at approximately $83,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in C4 Therapeutics by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 486,366 shares of the company’s stock worth $1,751,000 after acquiring an additional 3,437 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors and hedge funds.

C4 Therapeutics Stock Performance

CCCC stock opened at $1.38 on Monday. The stock has a market cap of $97.99 million, a P/E ratio of -0.81 and a beta of 3.10. C4 Therapeutics, Inc. has a twelve month low of $1.09 and a twelve month high of $7.66. The company’s 50 day moving average is $1.59 and its two-hundred day moving average is $3.07.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.11. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. The firm had revenue of $7.20 million during the quarter, compared to analysts’ expectations of $3.54 million. On average, equities research analysts predict that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, UBS Group upgraded shares of C4 Therapeutics to a “hold” rating in a report on Friday, February 14th.

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.