Tang Capital Management LLC Acquires 200,000 Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC)

Tang Capital Management LLC raised its holdings in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) by 28.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 900,000 shares of the company's stock after buying an additional 200,000 shares during the quarter. Tang Capital Management LLC owned about 1.27% of C4 Therapeutics worth $3,240,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CCCC. ProShare Advisors LLC raised its holdings in shares of C4 Therapeutics by 83.1% in the 4th quarter. ProShare Advisors LLC now owns 20,283 shares of the company's stock valued at $73,000 after acquiring an additional 9,204 shares in the last quarter. Nuveen Asset Management LLC increased its position 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 worth $693,000 after purchasing an additional 11,571 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in C4 Therapeutics by 497.2% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 137,360 shares of the company's stock valued at $494,000 after purchasing an additional 114,360 shares in the last quarter. Millennium Management LLC raised its stake in C4 Therapeutics by 1,548.3% in the fourth quarter. Millennium Management LLC now owns 360,125 shares of the company's stock valued at $1,296,000 after purchasing an additional 338,277 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in C4 Therapeutics during the fourth quarter valued at approximately $81,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group raised shares of C4 Therapeutics to a "hold" rating in a research note on Friday, February 14th.

C4 Therapeutics Price Performance

NASDAQ CCCC traded down $0.03 during trading hours on Friday, reaching $1.35. 140,320 shares of the stock traded hands, compared to its average volume of 1,388,128. The stock has a 50 day simple moving average of $1.54 and a two-hundred day simple moving average of $2.98. C4 Therapeutics, Inc. has a 1 year low of $1.09 and a 1 year high of $7.66. The company has a market cap of $95.50 million, a price-to-earnings ratio of -0.79 and a beta of 3.10.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.11. The firm had revenue of $7.20 million for the quarter, compared to analyst estimates of $3.54 million. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. On average, sell-side analysts forecast that C4 Therapeutics, Inc. will post -1.52 EPS for the current fiscal year.

C4 Therapeutics Profile

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.