Brookstone Capital Management Purchases Shares of 29,325 C4 Therapeutics, Inc. $CCCC

Brookstone Capital Management purchased a new stake in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 29,325 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CCCC. Acadian Asset Management LLC bought a new position in C4 Therapeutics during the first quarter valued at approximately $43,000. XTX Topco Ltd bought a new position in C4 Therapeutics during the first quarter valued at approximately $64,000. Deutsche Bank AG bought a new position in C4 Therapeutics during the first quarter valued at approximately $74,000. Invesco Ltd. grew its position in C4 Therapeutics by 101.6% during the first quarter. Invesco Ltd. now owns 139,486 shares of the company’s stock valued at $223,000 after acquiring an additional 70,293 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in C4 Therapeutics by 957.6% during the first quarter. AQR Capital Management LLC now owns 140,532 shares of the company’s stock valued at $225,000 after acquiring an additional 127,244 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wall Street Zen cut shares of C4 Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Wells Fargo & Company increased their price objective on C4 Therapeutics from $5.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, September 23rd. Guggenheim assumed coverage on C4 Therapeutics in a research note on Wednesday, September 3rd. They set a “buy” rating and a $8.00 price objective for the company. Zacks Research lowered C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Stephens reissued an “overweight” rating and set a $6.00 price objective on shares of C4 Therapeutics in a research note on Monday, September 22nd. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.50.

C4 Therapeutics Stock Down 2.7%

Shares of CCCC stock opened at $2.51 on Thursday. The stock has a fifty day moving average of $2.54 and a 200 day moving average of $2.02. C4 Therapeutics, Inc. has a 52 week low of $1.09 and a 52 week high of $6.52. The firm has a market capitalization of $178.64 million, a price-to-earnings ratio of -1.59 and a beta of 2.94.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. C4 Therapeutics had a negative return on equity of 53.91% and a negative net margin of 325.88%.The company had revenue of $6.46 million during the quarter, compared to analyst estimates of $5.24 million. Equities research analysts anticipate that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

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.