Insider Selling: C4 Therapeutics (NASDAQ:CCCC) Insider Sells $22,200.00 in Stock

C4 Therapeutics, Inc. (NASDAQ:CCCC) insider Leonard Reyno sold 10,000 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $2.22, for a total value of $22,200.00. Following the transaction, the insider directly owned 156,382 shares in the company, valued at approximately $347,168.04. This represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

C4 Therapeutics Stock Performance

CCCC opened at $2.24 on Monday. The firm has a market cap of $216.59 million, a P/E ratio of -1.34 and a beta of 2.93. The business has a 50 day moving average price of $2.32 and a 200 day moving average price of $2.37. C4 Therapeutics, Inc. has a twelve month low of $1.09 and a twelve month high of $4.03.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.03. C4 Therapeutics had a negative net margin of 395.51% and a negative return on equity of 64.40%. The business had revenue of $11.23 million during the quarter, compared to analysts’ expectations of $6.28 million. As a group, analysts anticipate that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays cut their price objective on C4 Therapeutics from $10.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Wednesday, October 8th. TD Cowen started coverage on shares of C4 Therapeutics in a research note on Tuesday, December 2nd. They issued a “buy” rating on the stock. Cowen started coverage on shares of C4 Therapeutics in a research note on Tuesday, December 2nd. They set a “buy” rating for the company. Finally, Stephens restated an “overweight” rating and issued a $6.00 price target on shares of C4 Therapeutics in a research report on Monday, September 22nd. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

Hedge Funds Weigh In On C4 Therapeutics

Hedge funds have recently made changes to their positions in the business. Zacks Investment Management bought a new position in shares of C4 Therapeutics during the 3rd quarter worth about $29,000. Dynamic Technology Lab Private Ltd bought a new stake in C4 Therapeutics in the second quarter valued at about $31,000. Savant Capital LLC acquired a new position in C4 Therapeutics in the second quarter worth about $38,000. Catalyst Funds Management Pty Ltd bought a new position in C4 Therapeutics during the second quarter worth about $40,000. Finally, Crestwood Advisors Group LLC acquired a new stake in C4 Therapeutics during the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.