C4 Therapeutics (NASDAQ:CCCC) Stock Price Up 7.9% - Here's Why

C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) shares traded up 7.9% during trading on Thursday . The stock traded as high as $2.26 and last traded at $2.18. 2,228,111 shares traded hands during mid-day trading, an increase of 69% from the average session volume of 1,317,143 shares. The stock had previously closed at $2.02.

C4 Therapeutics Trading Up 7.9%

The stock has a market capitalization of $154.80 million, a P/E ratio of -1.48 and a beta of 2.94. The company has a 50-day moving average price of $1.57 and a 200 day moving average price of $2.19.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.11. The firm had revenue of $7.20 million for the quarter, compared to the consensus estimate of $3.54 million. C4 Therapeutics had a negative return on equity of 45.86% and a negative net margin of 259.60%. As a group, research analysts expect that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

Hedge Funds Weigh In On C4 Therapeutics

A number of hedge funds have recently made changes to their positions in CCCC. Charles Schwab Investment Management Inc. increased its holdings in shares of C4 Therapeutics by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 486,366 shares of the company's stock valued at $1,751,000 after purchasing an additional 3,437 shares during the last quarter. Intech Investment Management LLC grew its position in C4 Therapeutics by 11.1% in the fourth quarter. Intech Investment Management LLC now owns 30,150 shares of the company's stock worth $109,000 after acquiring an additional 3,024 shares during the period. American Century Companies Inc. boosted its position in shares of C4 Therapeutics by 8.5% during the fourth quarter. American Century Companies Inc. now owns 132,832 shares of the company's stock worth $478,000 after buying an additional 10,459 shares during the period. Sei Investments Co. purchased a new position in shares of C4 Therapeutics during the fourth quarter worth $45,000. Finally, LPL Financial LLC boosted its position in shares of C4 Therapeutics by 13.1% during the fourth quarter. LPL Financial LLC now owns 70,325 shares of the company's stock worth $253,000 after buying an additional 8,150 shares during the period. Institutional investors and hedge funds own 78.81% of the company's stock.

C4 Therapeutics Company 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.

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