Seven Fleet Capital Management LP Raises Stock Holdings in C4 Therapeutics, Inc. $CCCC

Key Points

• Seven Fleet Capital Management increased its C4 Therapeutics stake by 567.8% in the second quarter, reaching 381,169 shares valued at approximately $1.78 million. Institutional investors collectively own 78.81% of the company.
• C4 Therapeutics reported quarterly revenue of $6.64 million and a loss of $0.18 per share, beating analyst expectations of $4.00 million in revenue and a $0.23-per-share loss. Analysts expect a full-year loss of $0.85 per share.
• The stock opened at $4.24, while analysts assign it a “Moderate Buy” consensus rating with an average price target of $7.75; however, Weiss Ratings maintains a “sell (d-)” rating.

Seven Fleet Capital Management LP grew its position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) by 567.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 381,169 shares of the company's stock after acquiring an additional 324,093 shares during the quarter. Seven Fleet Capital Management LP owned about 0.31% of C4 Therapeutics worth $1,780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCCC. AQR Capital Management LLC grew its holdings in shares of C4 Therapeutics by 957.6% in the first quarter. AQR Capital Management LLC now owns 140,532 shares of the company's stock valued at $225,000 after purchasing an additional 127,244 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in C4 Therapeutics by 8.6% during the first quarter. Goldman Sachs Group Inc. now owns 622,720 shares of the company's stock valued at $996,000 after purchasing an additional 49,065 shares in the last quarter. Acadian Asset Management LLC bought a new position in C4 Therapeutics during the first quarter valued at $43,000. XTX Topco Ltd lifted its position in C4 Therapeutics by 170.0% during the second 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. Finally, Invesco Ltd. lifted its position in C4 Therapeutics by 11.1% during the second quarter. Invesco Ltd. now owns 155,017 shares of the company's stock valued at $222,000 after purchasing an additional 15,531 shares during the last quarter. 78.81% of the stock is owned by hedge funds and other institutional investors.

C4 Therapeutics Stock Up 1.0%

Shares of CCCC opened at $4.24 on Thursday. The company has a market cap of $521.65 million, a PE ratio of -4.24 and a beta of 2.91. The business has a fifty day moving average of $3.97 and a 200 day moving average of $3.32. C4 Therapeutics, Inc. has a 52-week low of $1.69 and a 52-week high of $5.17.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $0.05. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. The business had revenue of $6.64 million for the quarter, compared to analysts' expectations of $4.00 million. As a group, research analysts anticipate that C4 Therapeutics, Inc. will post -0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of C4 Therapeutics in a report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, C4 Therapeutics has an average rating of "Moderate Buy" and an average target price of $7.75.

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.

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