State Street Corp Sells 188,035 Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC)

State Street Corp lowered its holdings in C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) by 6.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,806,913 shares of the company's stock after selling 188,035 shares during the quarter. State Street Corp owned 3.98% of C4 Therapeutics worth $15,999,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Point72 DIFC Ltd bought a new position in shares of C4 Therapeutics during the 3rd quarter worth about $51,000. Headlands Technologies LLC acquired a new position in C4 Therapeutics in the 2nd quarter valued at approximately $45,000. Cynosure Group LLC acquired a new position in C4 Therapeutics in the 3rd quarter valued at approximately $57,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of C4 Therapeutics in the 2nd quarter worth approximately $51,000. Finally, Aigen Investment Management LP acquired a new stake in shares of C4 Therapeutics during the 3rd quarter worth approximately $82,000. Institutional investors own 78.81% of the company's stock.

C4 Therapeutics Trading Down 4.7 %

CCCC stock traded down $0.19 during trading on Wednesday, hitting $3.87. The company had a trading volume of 1,651,327 shares, compared to its average volume of 2,091,101. The company has a fifty day moving average price of $4.95 and a two-hundred day moving average price of $5.43. C4 Therapeutics, Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $11.88. The company has a market cap of $273.18 million, a P/E ratio of -2.28 and a beta of 2.92.

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, beating 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 company had revenue of $15.36 million during the quarter, compared to analysts' expectations of $5.95 million. On average, analysts expect that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CCCC has been the subject of a number of recent research reports. Wells Fargo & Company upgraded C4 Therapeutics from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $8.00 to $12.00 in a research note on Thursday, December 19th. Stephens began coverage on shares of C4 Therapeutics in a research note on Monday, November 18th. They issued an "equal weight" rating and a $4.00 price objective for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $10.67.

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.