Velan Capital Investment Management LP Purchases Shares of 570,000 C4 Therapeutics, Inc. $CCCC

Key Points

• Velan Capital Investment Management acquired 570,000 shares of C4 Therapeutics, valued at approximately $2.66 million, giving it a 0.46% stake and making the stock 1.6% of its portfolio.
• Other institutional investors also adjusted their positions, and institutions collectively own 78.81% of C4 Therapeutics shares.
• Analysts maintain a “Moderate Buy” consensus with a $7.75 price target, despite one “Sell” rating. C4 Therapeutics recently exceeded quarterly revenue and EPS expectations, though it remains unprofitable.

Velan Capital Investment Management LP acquired a new position in C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 570,000 shares of the company's stock, valued at approximately $2,662,000. C4 Therapeutics accounts for approximately 1.6% of Velan Capital Investment Management LP's portfolio, making the stock its 16th largest holding. Velan Capital Investment Management LP owned 0.46% of C4 Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCCC. AQR Capital Management LLC boosted its stake in C4 Therapeutics by 957.6% in the 1st quarter. AQR Capital Management LLC now owns 140,532 shares of the company's stock worth $225,000 after purchasing an additional 127,244 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of C4 Therapeutics by 8.6% in the first quarter. Goldman Sachs Group Inc. now owns 622,720 shares of the company's stock worth $996,000 after buying an additional 49,065 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of C4 Therapeutics during the first quarter worth $43,000. XTX Topco Ltd grew its stake 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 acquiring an additional 68,178 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in C4 Therapeutics by 11.1% in the 2nd quarter. Invesco Ltd. now owns 155,017 shares of the company's stock valued at $222,000 after acquiring an additional 15,531 shares during the last quarter. Institutional investors own 78.81% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of C4 Therapeutics in a report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.75.

C4 Therapeutics Stock Up 4.3%

C4 Therapeutics stock opened at $3.87 on Wednesday. The company's 50-day moving average price is $3.95 and its 200-day moving average price is $3.38. The company has a market cap of $476.13 million, a PE ratio of -3.87 and a beta of 2.94. 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, August 11th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.05. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%.The company had revenue of $6.64 million during the quarter, compared to analyst estimates of $4.00 million. As a group, sell-side analysts expect that C4 Therapeutics, Inc. will post -0.85 earnings per share for the current fiscal year.

C4 Therapeutics Profile

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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