Candriam S.C.A. Acquires 963,409 Shares of C4 Therapeutics, Inc. $CCCC

Key Points

• Candriam S.C.A. increased its C4 Therapeutics stake by 53.6%, buying 963,409 shares in the third quarter to hold 2.76 million shares, worth about $9.2 million at quarter-end.
• Institutional investors own 78.81% of the company’s shares. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $8.50.
• C4 Therapeutics reported quarterly EPS of -$0.16, beating the -$0.19 consensus estimate, while revenue of $8.47 million came in slightly below expectations.

Candriam S.C.A. lifted its holdings in C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) by 53.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,760,346 shares of the company's stock after purchasing an additional 963,409 shares during the period. Candriam S.C.A. owned about 2.24% of C4 Therapeutics worth $9,226,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SummitTX Capital L.P. purchased a new position in C4 Therapeutics during the first quarter valued at approximately $28,000. CTC Alternative Strategies Ltd. bought a new stake in C4 Therapeutics during the 1st quarter valued at $28,000. Sei Investments Co. purchased a new position in shares of C4 Therapeutics in the 1st quarter valued at $66,000. China Universal Asset Management Co. Ltd. raised its position in shares of C4 Therapeutics by 27.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,447 shares of the company's stock worth $70,000 after acquiring an additional 4,850 shares in the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of C4 Therapeutics during the 1st quarter worth $113,000. 78.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of C4 Therapeutics in a report on Thursday, October 15th. JPMorgan Chase & Co. started coverage on C4 Therapeutics in a research note on Friday, October 9th. They set an "overweight" rating and a $10.00 price target on the stock. Wall Street Zen downgraded shares of C4 Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday. Lake Street Capital assumed coverage on shares of C4 Therapeutics in a report on Wednesday, October 28th. They set a "buy" rating and a $11.00 price objective on the stock. Finally, Guggenheim assumed coverage on shares of C4 Therapeutics in a research report on Friday. They issued a "buy" rating and a $6.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.50.

C4 Therapeutics Stock Performance

Shares of C4 Therapeutics stock opened at $3.15 on Tuesday. C4 Therapeutics, Inc. has a one year low of $1.69 and a one year high of $5.17. The company has a market cap of $387.54 million, a price-to-earnings ratio of -4.37 and a beta of 3.16. The business's 50 day moving average price is $3.21 and its 200 day moving average price is $3.23.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.03. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. The business had revenue of $8.47 million for the quarter, compared to analyst estimates of $8.52 million. On average, analysts predict that C4 Therapeutics, Inc. will post -0.81 EPS for the current fiscal year.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary TORPEDO platform to design targeted protein degraders, which are intended to direct specific proteins to the cell's natural disposal system rather than simply blocking their activity.

C4 Therapeutics has concentrated its research and development efforts primarily on oncology, including programs aimed at genetically defined cancers and difficult-to-treat tumors.

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