C4 Therapeutics, Inc. (NASDAQ:CCCC) Shares Bought by Wasatch Advisors LP

Wasatch Advisors LP grew its holdings in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 17.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,677,368 shares of the company’s stock after purchasing an additional 830,218 shares during the period. Wasatch Advisors LP owned approximately 8.04% of C4 Therapeutics worth $32,361,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of C4 Therapeutics during the second quarter valued at $45,000. Cynosure Group LLC acquired a new position in shares of C4 Therapeutics during the third quarter valued at $57,000. B. Riley Wealth Advisors Inc. bought a new position in C4 Therapeutics during the second quarter valued at about $51,000. Aigen Investment Management LP bought a new position in C4 Therapeutics during the third quarter valued at about $82,000. Finally, SG Americas Securities LLC bought a new position in C4 Therapeutics during the third quarter valued at about $142,000. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Price Performance

NASDAQ:CCCC opened at $4.55 on Friday. C4 Therapeutics, Inc. has a 1-year low of $1.06 and a 1-year high of $11.88. The firm has a market capitalization of $321.18 million, a price-to-earnings ratio of -2.68 and a beta of 3.04. The stock has a fifty day simple moving average of $5.48 and a 200 day simple moving average of $5.57.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. The business had revenue of $15.36 million during the quarter, compared to analyst estimates of $5.95 million. Equities analysts predict that C4 Therapeutics, Inc. will post -1.48 earnings per share for the current year.

Analyst Ratings Changes

CCCC has been the subject of several research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $20.00 target price on shares of C4 Therapeutics in a research note on Tuesday, August 6th. Stephens initiated coverage on C4 Therapeutics in a research note on Monday, November 18th. They set an “equal weight” rating and a $4.00 target price for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.00.

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.