Wall Street Zen Downgrades C4 Therapeutics (NASDAQ:CCCC) to Sell

C4 Therapeutics (NASDAQ:CCCC) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

C4 Therapeutics Stock Performance

Shares of CCCC stock opened at $2.50 on Friday. The company has a market capitalization of $177.53 million, a P/E ratio of -1.58 and a beta of 2.97. The company’s 50 day moving average price is $1.84 and its two-hundred day moving average price is $2.02. C4 Therapeutics has a 52 week low of $1.09 and a 52 week high of $7.22.

C4 Therapeutics (NASDAQ:CCCC) last announced its earnings results on Thursday, August 7th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.01. The firm had revenue of $6.46 million for the quarter, compared to the consensus estimate of $5.24 million. C4 Therapeutics had a negative net margin of 325.88% and a negative return on equity of 51.20%. Analysts forecast that C4 Therapeutics will post -1.52 earnings per share for the current year.

Institutional Trading of C4 Therapeutics

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC raised its holdings in shares of C4 Therapeutics by 49.4% in the fourth quarter. Jane Street Group LLC now owns 152,774 shares of the company’s stock valued at $550,000 after purchasing an additional 50,523 shares during the last quarter. Millennium Management LLC raised its holdings in shares of C4 Therapeutics by 1,548.3% in the fourth quarter. Millennium Management LLC now owns 360,125 shares of the company’s stock valued at $1,296,000 after purchasing an additional 338,277 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of C4 Therapeutics in the first quarter valued at approximately $680,000. Nuveen Asset Management LLC raised its holdings in shares of C4 Therapeutics by 6.4% in the fourth quarter. Nuveen Asset Management LLC now owns 192,424 shares of the company’s stock valued at $693,000 after purchasing an additional 11,571 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of C4 Therapeutics in the fourth quarter valued at approximately $45,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

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.