Wellington Management Group LLP Purchases Shares of 227,768 C4 Therapeutics, Inc. $CCCC

Wellington Management Group LLP acquired a new position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 227,768 shares of the company’s stock, valued at approximately $1,064,000. Wellington Management Group LLP owned about 0.19% of C4 Therapeutics as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CCCC. Engineers Gate Manager LP grew its position in shares of 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 purchasing an additional 8,130 shares during the last quarter. SummitTX Capital L.P. acquired a new stake in C4 Therapeutics during the 1st quarter worth approximately $28,000. CTC Alternative Strategies Ltd. bought a new stake in C4 Therapeutics in the 1st quarter valued at $28,000. Man Group plc boosted its stake in 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 purchasing an additional 11,791 shares during the period. Finally, Zacks Investment Management acquired a new position in C4 Therapeutics in the 3rd quarter valued at $29,000. Institutional investors own 78.81% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.67.

C4 Therapeutics Stock Up 3.2%

CCCC opened at $3.51 on Friday. C4 Therapeutics, Inc. has a twelve month low of $1.69 and a twelve month high of $5.17. The company has a 50-day simple moving average of $3.83 and a 200 day simple moving average of $3.47. The stock has a market capitalization of $431.82 million, a price-to-earnings ratio of -3.51 and a beta of 2.94.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. The firm had revenue of $6.64 million for the quarter, compared to the consensus estimate of $4.00 million. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. Sell-side analysts anticipate that C4 Therapeutics, Inc. will post -0.85 EPS for the current fiscal year.

C4 Therapeutics Company Profile

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.