697,653 Shares in C4 Therapeutics, Inc. $CCCC Bought 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. acquired a new stake in C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 697,653 shares of the company's stock, valued at approximately $1,116,000. Jacobs Levy Equity Management Inc. owned about 0.98% of C4 Therapeutics as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the business. Northern Trust Corp grew its stake in C4 Therapeutics by 1.1% in the fourth quarter. Northern Trust Corp now owns 495,043 shares of the company's stock valued at $1,782,000 after acquiring an additional 5,223 shares during the period. Cubist Systematic Strategies LLC grew its stake in C4 Therapeutics by 6.6% in the fourth quarter. Cubist Systematic Strategies LLC now owns 109,825 shares of the company's stock valued at $395,000 after acquiring an additional 6,799 shares during the period. American Century Companies Inc. grew its stake in C4 Therapeutics by 6.9% in the first quarter. American Century Companies Inc. now owns 141,986 shares of the company's stock valued at $227,000 after acquiring an additional 9,154 shares during the period. ProShare Advisors LLC lifted its holdings in shares of C4 Therapeutics by 83.1% in the fourth quarter. ProShare Advisors LLC now owns 20,283 shares of the company's stock valued at $73,000 after purchasing an additional 9,204 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of C4 Therapeutics by 6.4% in the fourth quarter. Nuveen Asset Management LLC now owns 192,424 shares of the company's stock valued at $693,000 after purchasing an additional 11,571 shares in the last quarter. Institutional investors own 78.81% of the company's stock.

Analysts Set New Price Targets

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

C4 Therapeutics Trading Down 1.9%

CCCC stock traded down $0.07 during trading on Wednesday, reaching $3.35. 344,739 shares of the stock were exchanged, compared to its average volume of 1,426,239. The firm's 50 day moving average is $2.44 and its 200 day moving average is $1.89. C4 Therapeutics, Inc. has a twelve month low of $1.09 and a twelve month high of $7.14. The firm has a market cap of $238.06 million, a P/E ratio of -2.11 and a beta of 2.98.

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

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.