C4 Therapeutics (NASDAQ:CCCC) Stock: Insider Kendra Adams Sells 45,173 Shares

C4 Therapeutics, Inc. (NASDAQ:CCCC) CFO Kendra Adams sold 45,173 shares of the firm’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $2.71, for a total transaction of $122,418.83. Following the sale, the chief financial officer owned 337,150 shares of the company’s stock, valued at approximately $913,676.50. This represents a 11.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C4 Therapeutics Stock Performance

CCCC traded down $0.01 on Friday, reaching $2.76. The company had a trading volume of 2,543,578 shares, compared to its average volume of 2,657,840. C4 Therapeutics, Inc. has a fifty-two week low of $1.69 and a fifty-two week high of $5.17. The stock has a market cap of $362.44 million, a P/E ratio of -3.83 and a beta of 3.16. The company’s fifty day moving average is $3.15 and its 200 day moving average is $3.24.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. C4 Therapeutics had a negative net margin of 282.22% and a negative return on equity of 37.71%. The firm had revenue of $8.47 million for the quarter, compared to analysts’ expectations of $8.52 million. On average, sell-side analysts expect that C4 Therapeutics, Inc. will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CCCC shares. Lake Street Capital started coverage on C4 Therapeutics in a report on Wednesday, October 28th. They set a “buy” rating and a $11.00 price target for the company. Wall Street Zen lowered C4 Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. JPMorgan Chase & Co. started coverage on C4 Therapeutics in a research report on Friday, October 9th. They set an “overweight” rating and a $10.00 price objective on the stock. Guggenheim started coverage on C4 Therapeutics in a report on Friday, November 6th. They set a “buy” rating and a $6.00 target price for the company. Finally, Evercore cut shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 2nd. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $8.50.

Institutional Investors Weigh In On C4 Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP boosted its stake in shares of C4 Therapeutics by 18.9% in the second quarter. Wasatch Advisors LP now owns 3,522,644 shares of the company’s stock valued at $16,451,000 after buying an additional 560,883 shares during the period. Candriam S.C.A. increased its stake in C4 Therapeutics by 53.6% during the 3rd quarter. Candriam S.C.A. now owns 2,760,346 shares of the company’s stock worth $9,226,000 after acquiring an additional 963,409 shares during the period. Renaissance Technologies LLC increased its stake in C4 Therapeutics by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock worth $6,475,000 after acquiring an additional 859,235 shares during the period. Congress Asset Management Co. raised its holdings in C4 Therapeutics by 25.2% in the 3rd quarter. Congress Asset Management Co. now owns 1,256,692 shares of the company’s stock valued at $4,185,000 after acquiring an additional 253,255 shares in the last quarter. Finally, Velan Capital Investment Management LP acquired a new position in C4 Therapeutics in the 2nd quarter valued at $2,662,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc. is a clinical-stage biopharmaceutical company based in Watertown, Massachusetts. Founded in 2015, it develops medicines designed to selectively remove disease-causing proteins, with a focus on cancer. The company uses its TORPEDO platform to design targeted protein degraders. These molecules are intended to bind a target protein and recruit the cell’s natural protein-disposal machinery, leading to the protein’s breakdown. C4 Therapeutics’ research and development programs include oral small-molecule candidates for oncology.