Point72 Asset Management L.P. Raises Holdings in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Point72 Asset Management L.P. boosted its holdings in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) by 331.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,201,848 shares of the company's stock after buying an additional 923,268 shares during the quarter. Point72 Asset Management L.P. owned approximately 1.70% of C4 Therapeutics worth $6,851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CCCC. Headlands Technologies LLC bought a new stake in shares of C4 Therapeutics during the 2nd quarter valued at $45,000. B. Riley Wealth Advisors Inc. purchased a new position in C4 Therapeutics during the second quarter valued at $51,000. Cynosure Group LLC bought a new stake in C4 Therapeutics during the third quarter valued at about $57,000. Aigen Investment Management LP purchased a new stake in C4 Therapeutics in the third quarter worth about $82,000. Finally, Cornercap Investment Counsel Inc. purchased a new stake in C4 Therapeutics in the second quarter worth about $125,000. 78.81% of the stock is owned by hedge funds and other institutional investors.

C4 Therapeutics Stock Down 6.1 %

NASDAQ:CCCC traded down $0.27 on Monday, reaching $4.15. 1,966,412 shares of the company's stock traded hands, compared to its average volume of 2,084,342. The firm has a market cap of $292.95 million, a PE ratio of -2.60 and a beta of 2.93. The stock has a 50-day simple moving average of $5.28 and a 200-day simple moving average of $5.51. C4 Therapeutics, Inc. has a 12 month low of $1.15 and a 12 month high of $11.88.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $15.36 million for the quarter, compared to the consensus estimate of $5.95 million. On average, equities analysts anticipate that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

Analyst Ratings Changes

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