697,653 Shares in C4 Therapeutics, Inc. $CCCC Acquired by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has acquired 697,653 shares of C4 Therapeutics, Inc. for approximately $1,116,000, representing about 0.98% ownership in the company as of their recent SEC filing.
• Several institutional investors, including Soleus Capital Management and Millennium Management, have also increased their stakes in C4 Therapeutics, contributing to a total institutional ownership of 78.81%.
• Analyst ratings on C4 Therapeutics include a mix of upgrades and downgrades, with current consensus reflecting an average rating of "Hold" and a price target of $8.00.

Jacobs Levy Equity Management Inc. purchased a new position in C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 697,653 shares of the company's stock, valued at approximately $1,116,000. Jacobs Levy Equity Management Inc. owned 0.98% of C4 Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in C4 Therapeutics in the first quarter worth $64,000. Delta Investment Management LLC purchased a new position in C4 Therapeutics during the fourth quarter valued at $72,000. ProShare Advisors LLC lifted its position in C4 Therapeutics by 83.1% during the fourth quarter. ProShare Advisors LLC now owns 20,283 shares of the company's stock valued at $73,000 after buying an additional 9,204 shares during the period. Deutsche Bank AG purchased a new position in C4 Therapeutics during the first quarter valued at $74,000. Finally, Lazard Asset Management LLC purchased a new position in C4 Therapeutics during the fourth quarter valued at $81,000. Hedge funds and other institutional investors own 78.81% of the company's stock.

C4 Therapeutics Price Performance

Shares of NASDAQ:CCCC traded down $0.03 during mid-day trading on Wednesday, reaching $3.38. 1,336,155 shares of the company traded hands, compared to its average volume of 1,253,744. The company's 50 day moving average price is $2.47 and its 200-day moving average price is $1.90. The firm has a market cap of $240.55 million, a PE ratio of -2.14 and a beta of 2.98. C4 Therapeutics, Inc. has a 52 week low of $1.09 and a 52 week high of $7.14.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.38) by $0.01. The company had revenue of $6.46 million during the quarter, compared to the consensus estimate of $5.24 million. C4 Therapeutics had a negative return on equity of 53.91% and a negative net margin of 325.88%. On average, research analysts predict that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CCCC. Zacks Research lowered C4 Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Stephens raised C4 Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $3.00 to $6.00 in a research report on Monday. Guggenheim began coverage on C4 Therapeutics in a research report on Wednesday, September 3rd. They set a "buy" rating and a $8.00 price objective for the company. Wall Street Zen lowered C4 Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Barclays assumed coverage on C4 Therapeutics in a research report on Wednesday. They set an "overweight" rating and a $8.00 price objective for the company. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $8.50.

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.