AlphaCrest Capital Management LLC Purchases New Holdings in C4 Therapeutics, Inc. (NASDAQ:CCCC)

AlphaCrest Capital Management LLC purchased a new stake in C4 Therapeutics, Inc. (NASDAQ:CCCCGet Rating) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 42,027 shares of the company’s stock, valued at approximately $1,020,000. AlphaCrest Capital Management LLC owned 0.09% of C4 Therapeutics at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Tortoise Investment Management LLC bought a new stake in C4 Therapeutics during the first quarter worth $45,000. Point72 Hong Kong Ltd lifted its stake in C4 Therapeutics by 49.7% during the fourth quarter. Point72 Hong Kong Ltd now owns 2,011 shares of the company’s stock worth $65,000 after purchasing an additional 668 shares during the last quarter. Virtus ETF Advisers LLC lifted its stake in C4 Therapeutics by 10.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,589 shares of the company’s stock worth $180,000 after purchasing an additional 546 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in C4 Therapeutics during the first quarter worth $217,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in C4 Therapeutics by 126.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 14,540 shares of the company’s stock worth $353,000 after purchasing an additional 8,120 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CCCC. HC Wainwright cut their target price on C4 Therapeutics from $63.00 to $35.00 in a research note on Monday, May 9th. Credit Suisse Group upped their target price on C4 Therapeutics to $12.00 in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.33.

C4 Therapeutics Stock Performance

NASDAQ CCCC opened at $9.99 on Friday. The company has a market capitalization of $488.65 million, a price-to-earnings ratio of -4.92 and a beta of 2.33. C4 Therapeutics, Inc. has a twelve month low of $4.84 and a twelve month high of $51.21. The stock has a fifty day simple moving average of $10.15 and a 200 day simple moving average of $12.75. The company has a quick ratio of 6.90, a current ratio of 6.90 and a debt-to-equity ratio of 0.03.

C4 Therapeutics Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for C4 Therapeutics (NASDAQ:CCCC)

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