Lazard Asset Management LLC Acquires New Stake in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Lazard Asset Management LLC bought a new position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,693 shares of the company’s stock, valued at approximately $81,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wasatch Advisors LP lifted its stake in shares of C4 Therapeutics by 7.0% in the fourth quarter. Wasatch Advisors LP now owns 6,072,601 shares of the company’s stock worth $21,861,000 after acquiring an additional 395,233 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in C4 Therapeutics by 198.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock worth $5,580,000 after purchasing an additional 1,030,000 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of C4 Therapeutics by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,381,086 shares of the company’s stock worth $4,973,000 after purchasing an additional 11,410 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in shares of C4 Therapeutics by 1.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,334,101 shares of the company’s stock valued at $4,803,000 after purchasing an additional 14,617 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of C4 Therapeutics by 1.1% during the fourth quarter. Northern Trust Corp now owns 495,043 shares of the company’s stock worth $1,782,000 after buying an additional 5,223 shares during the period. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Stock Up 0.7%

NASDAQ:CCCC opened at $1.38 on Monday. C4 Therapeutics, Inc. has a twelve month low of $1.09 and a twelve month high of $7.66. The company has a fifty day moving average of $1.52 and a 200-day moving average of $2.91. The firm has a market capitalization of $97.99 million, a P/E ratio of -0.81 and a beta of 3.10.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.54 million. On average, analysts anticipate that C4 Therapeutics, Inc. will post -1.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.