ExodusPoint Capital Management LP Makes New $215,000 Investment in C4 Therapeutics, Inc. (NASDAQ:CCCC)

ExodusPoint Capital Management LP purchased a new stake in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) during the fourth quarter, Holdings Channel reports. The fund purchased 59,654 shares of the company’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in C4 Therapeutics by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,381,086 shares of the company’s stock worth $4,973,000 after purchasing an additional 11,410 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of C4 Therapeutics by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 486,366 shares of the company’s stock worth $1,751,000 after buying an additional 3,437 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of C4 Therapeutics by 24.7% during the 3rd quarter. Wellington Management Group LLP now owns 286,041 shares of the company’s stock worth $1,630,000 after buying an additional 56,696 shares during the period. Barclays PLC grew its stake in C4 Therapeutics by 38.4% in the 3rd quarter. Barclays PLC now owns 243,457 shares of the company’s stock valued at $1,387,000 after buying an additional 67,546 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in C4 Therapeutics by 18.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 227,147 shares of the company’s stock worth $818,000 after acquiring an additional 34,783 shares during the period. Institutional investors and hedge funds own 78.81% of the company’s stock.

Wall Street Analyst Weigh In

CCCC has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded C4 Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $8.00 to $12.00 in a research note on Thursday, December 19th. UBS Group raised C4 Therapeutics to a “hold” rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

C4 Therapeutics Stock Up 2.5 %

Shares of NASDAQ CCCC opened at $1.24 on Monday. C4 Therapeutics, Inc. has a 12-month low of $1.09 and a 12-month high of $7.66. The firm’s 50-day simple moving average is $2.30 and its 200 day simple moving average is $3.82. The company has a market cap of $88.03 million, a price-to-earnings ratio of -0.73 and a beta of 3.11.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.05). C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. The firm had revenue of $5.18 million during the quarter, compared to the consensus estimate of $4.43 million. On average, equities analysts expect that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current 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.