453,236 Shares in C4 Therapeutics, Inc. $CCCC Acquired by Stempoint Capital LP

Key Points

• Stempoint Capital LP acquired 453,236 shares of C4 Therapeutics in the first quarter, worth approximately $1.19 million and representing about 0.41% of the company. Institutional investors collectively own 78.81% of C4 Therapeutics.
• Analyst sentiment is generally positive, with five Buy ratings, one Hold, and one Sell; MarketBeat reports a “Moderate Buy” consensus and an average price target of $7.75. Weiss Ratings separately maintained a “sell (D-)” rating.
• C4 Therapeutics reported quarterly revenue of $6.15 million and an EPS loss of $0.20, beating analyst estimates, but remains unprofitable with a negative net margin of 297.76%. Its shares opened at $3.52, within a one-year range of $1.69 to $5.17.

Stempoint Capital LP acquired a new stake in C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 453,236 shares of the company's stock, valued at approximately $1,192,000. Stempoint Capital LP owned approximately 0.41% of C4 Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. RA Capital Management L.P. bought a new position in shares of C4 Therapeutics in the fourth quarter worth $15,280,000. Bain Capital Life Sciences Investors LLC lifted its holdings in C4 Therapeutics by 545.0% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 7,171,910 shares of the company's stock worth $13,698,000 after purchasing an additional 6,060,000 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in C4 Therapeutics by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company's stock worth $6,475,000 after purchasing an additional 859,235 shares in the last quarter. Wells Fargo & Company MN boosted its stake in C4 Therapeutics by 4,236.9% in the 4th quarter. Wells Fargo & Company MN now owns 809,260 shares of the company's stock worth $1,546,000 after purchasing an additional 790,600 shares during the period. Finally, Wasatch Advisors LP boosted its stake in C4 Therapeutics by 10.4% in the 2nd quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company's stock worth $10,617,000 after purchasing an additional 700,253 shares during the period. Institutional investors own 78.81% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of C4 Therapeutics in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, C4 Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $7.75.

C4 Therapeutics Price Performance

CCCC opened at $3.52 on Thursday. The firm has a market capitalization of $389.21 million, a P/E ratio of -2.96 and a beta of 2.90. C4 Therapeutics, Inc. has a one year low of $1.69 and a one year high of $5.17. The company has a fifty day moving average price of $3.94 and a 200-day moving average price of $3.07.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.05. The company had revenue of $6.15 million for the quarter, compared to the consensus estimate of $4.42 million. C4 Therapeutics had a negative return on equity of 50.68% and a negative net margin of 297.76%. On average, analysts expect that C4 Therapeutics, Inc. will post -0.87 earnings per share for the current year.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body's natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company's pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.