Wasatch Advisors LP Has $16.45 Million Holdings in C4 Therapeutics, Inc. $CCCC

Wasatch Advisors LP grew its position in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 18.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,522,644 shares of the company’s stock after acquiring an additional 560,883 shares during the quarter. Wasatch Advisors LP’s holdings in C4 Therapeutics were worth $16,451,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CCCC. Engineers Gate Manager LP grew its position in C4 Therapeutics by 49.9% in the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock valued at $47,000 after acquiring an additional 8,130 shares during the period. SummitTX Capital L.P. acquired a new stake in C4 Therapeutics in the 1st quarter valued at about $28,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of C4 Therapeutics in the first quarter valued at approximately $28,000. Man Group plc increased its stake in shares of C4 Therapeutics by 15.0% in the 3rd quarter. Man Group plc now owns 90,278 shares of the company’s stock valued at $200,000 after buying an additional 11,791 shares during the period. Finally, Zacks Investment Management bought a new position in shares of C4 Therapeutics in the 3rd quarter worth $29,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

C4 Therapeutics Stock Performance

Shares of C4 Therapeutics stock opened at $3.90 on Thursday. C4 Therapeutics, Inc. has a 52-week low of $1.69 and a 52-week high of $5.17. The business’s 50 day simple moving average is $3.90 and its 200 day simple moving average is $3.17. The firm has a market cap of $431.22 million, a PE ratio of -3.90 and a beta of 2.91.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 47.15%. The business had revenue of $6.64 million during the quarter, compared to the consensus estimate of $4.00 million. As a group, equities research analysts predict that C4 Therapeutics, Inc. will post -0.87 EPS for the current year.

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.