Y Intercept Hong Kong Ltd Takes Position in C4 Therapeutics, Inc. $CCCC

Y Intercept Hong Kong Ltd purchased a new position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 52,521 shares of the company’s stock, valued at approximately $75,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new stake in C4 Therapeutics during the 1st quarter worth $1,116,000. Nuveen LLC purchased a new position in shares of C4 Therapeutics in the first quarter worth about $308,000. XTX Topco Ltd purchased a new position in shares of C4 Therapeutics in the first quarter worth about $64,000. Deutsche Bank AG acquired a new position in C4 Therapeutics during the first quarter worth about $74,000. Finally, Goldman Sachs Group Inc. grew its stake in C4 Therapeutics by 8.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 622,720 shares of the company’s stock valued at $996,000 after acquiring an additional 49,065 shares in the last quarter. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Stock Down 1.7%

CCCC stock opened at $2.34 on Monday. C4 Therapeutics, Inc. has a 52-week low of $1.09 and a 52-week high of $6.20. The stock has a market cap of $166.54 million, a price-to-earnings ratio of -1.40 and a beta of 2.95. The business has a fifty day moving average of $2.52 and a two-hundred day moving average of $2.08.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results 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. The business had revenue of $11.23 million during the quarter, compared to analysts’ expectations of $6.28 million. C4 Therapeutics had a negative return on equity of 64.40% and a negative net margin of 395.51%. As a group, sell-side analysts anticipate that C4 Therapeutics, Inc. will post -1.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stephens reissued an “overweight” rating and issued a $6.00 target price on shares of C4 Therapeutics in a research note on Monday, September 22nd. Wall Street Zen cut C4 Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Guggenheim started coverage on C4 Therapeutics in a research note on Wednesday, September 3rd. They set a “buy” rating and a $8.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Wednesday, October 8th. Finally, Zacks Research lowered C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 22nd. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, C4 Therapeutics has a consensus rating of “Hold” and a consensus target price of $8.50.

About C4 Therapeutics

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.