Orbimed Advisors LLC reduced its stake in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) by 39.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 856,353 shares of the company's stock after selling 548,549 shares during the quarter. Orbimed Advisors LLC owned about 0.77% of C4 Therapeutics worth $2,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Man Group plc grew its stake in C4 Therapeutics by 15.0% during the third quarter. Man Group plc now owns 90,278 shares of the company's stock valued at $200,000 after acquiring an additional 11,791 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of C4 Therapeutics by 170.0% during the 2nd quarter. XTX Topco Ltd now owns 108,278 shares of the company's stock valued at $155,000 after purchasing an additional 68,178 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in shares of C4 Therapeutics during the 4th quarter valued at about $119,000. Jefferies Financial Group Inc. purchased a new position in shares of C4 Therapeutics during the third quarter valued at about $85,000. Finally, Voleon Capital Management LP bought a new stake in shares of C4 Therapeutics in the third quarter worth about $63,000. Hedge funds and other institutional investors own 78.81% of the company's stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of C4 Therapeutics in a research report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.75.
Read Our Latest Analysis on CCCC
C4 Therapeutics Price Performance
C4 Therapeutics stock opened at $3.40 on Monday. The company's 50-day moving average price is $3.92 and its 200-day moving average price is $3.04. The company has a market cap of $375.94 million, a PE ratio of -2.86 and a beta of 2.90. C4 Therapeutics, Inc. has a twelve month low of $1.69 and a twelve month high of $5.17.
C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.05. The company had revenue of $6.15 million during the quarter, compared to analyst estimates of $4.42 million. C4 Therapeutics had a negative return on equity of 50.68% and a negative net margin of 297.76%. As a group, sell-side analysts expect that C4 Therapeutics, Inc. will post -0.87 earnings per share for the current fiscal year.
C4 Therapeutics Company Profile
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Free Report)
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.
Further Reading
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