Fmr LLC Buys 162,314 Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC)

FMR LLC lifted its position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) by 687.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,941 shares of the company's stock after purchasing an additional 162,314 shares during the quarter. FMR LLC owned 0.26% of C4 Therapeutics worth $1,060,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CCCC. The Manufacturers Life Insurance Company lifted its holdings in shares of C4 Therapeutics by 81.8% in the third quarter. The Manufacturers Life Insurance Company now owns 41,664 shares of the company's stock valued at $237,000 after purchasing an additional 18,746 shares in the last quarter. Intech Investment Management LLC bought a new stake in C4 Therapeutics in the 3rd quarter valued at approximately $155,000. LMR Partners LLP acquired a new position in C4 Therapeutics during the 3rd quarter worth approximately $291,000. Aigen Investment Management LP bought a new position in shares of C4 Therapeutics during the 3rd quarter worth approximately $82,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of C4 Therapeutics by 34.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 192,364 shares of the company's stock valued at $1,096,000 after purchasing an additional 49,532 shares during the last quarter. Institutional investors and hedge funds own 78.81% of the company's stock.

C4 Therapeutics Stock Down 6.0 %

NASDAQ:CCCC traded down $0.26 during trading hours on Tuesday, hitting $4.05. 1,018,985 shares of the company traded hands, compared to its average volume of 2,082,505. The company has a market cap of $285.89 million, a PE ratio of -2.38 and a beta of 2.92. The firm's 50-day simple moving average is $5.13 and its 200-day simple moving average is $5.47. C4 Therapeutics, Inc. has a one year low of $3.77 and a one year high of $11.88.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $5.95 million. As a group, equities research analysts expect that C4 Therapeutics, Inc. will post -1.52 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Stephens began coverage on C4 Therapeutics in a report on Monday, November 18th. They issued an "equal weight" rating and a $4.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, C4 Therapeutics has an average rating of "Hold" and a consensus 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.