Raymond James & Associates Has $571,000 Stock Position in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Raymond James & Associates boosted its position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,984 shares of the company’s stock after purchasing an additional 9,604 shares during the period. Raymond James & Associates owned 0.20% of C4 Therapeutics worth $571,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in C4 Therapeutics during the fourth quarter valued at about $49,000. Barclays PLC raised its holdings in C4 Therapeutics by 30.7% during the third quarter. Barclays PLC now owns 43,614 shares of the company’s stock valued at $81,000 after buying an additional 10,246 shares in the last quarter. Citigroup Inc. raised its holdings in C4 Therapeutics by 214.6% during the third quarter. Citigroup Inc. now owns 57,894 shares of the company’s stock valued at $108,000 after buying an additional 39,492 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in C4 Therapeutics by 20.6% during the third quarter. Harbor Capital Advisors Inc. now owns 70,703 shares of the company’s stock valued at $132,000 after buying an additional 12,056 shares in the last quarter. Finally, M&T Bank Corp bought a new position in C4 Therapeutics during the third quarter valued at about $260,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley raised their target price on C4 Therapeutics to $8.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Stifel Nicolaus restated a “buy” rating and set a $13.00 target price (up from $12.00) on shares of C4 Therapeutics in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. upgraded C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 price objective on the stock in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, C4 Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

C4 Therapeutics Stock Performance

C4 Therapeutics stock opened at $6.24 on Friday. The business’s 50-day simple moving average is $8.53 and its 200-day simple moving average is $5.42. The firm has a market capitalization of $428.06 million, a PE ratio of -2.34 and a beta of 3.18. C4 Therapeutics, Inc. has a 52 week low of $1.06 and a 52 week high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Thursday, February 22nd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.01). C4 Therapeutics had a negative return on equity of 55.30% and a negative net margin of 638.34%. The firm had revenue of $3.26 million for the quarter, compared to analyst estimates of $5.23 million. Research analysts forecast that C4 Therapeutics, Inc. will post -1.86 earnings per share for the current year.

About C4 Therapeutics

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.