C4 Therapeutics, Inc. (NASDAQ:CCCC) Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. boosted its stake in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 115.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 42,533 shares of the company’s stock after purchasing an additional 22,789 shares during the period. Balyasny Asset Management L.P.’s holdings in C4 Therapeutics were worth $153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCCC. Sei Investments Co. purchased a new stake in shares of C4 Therapeutics during the fourth quarter worth approximately $45,000. Kazazian Asset Management LLC acquired a new stake in shares of C4 Therapeutics in the 4th quarter worth $51,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of C4 Therapeutics in the fourth quarter valued at about $54,000. Y Intercept Hong Kong Ltd purchased a new position in C4 Therapeutics during the fourth quarter worth about $83,000. Finally, Intech Investment Management LLC raised its holdings in C4 Therapeutics by 11.1% during the fourth quarter. Intech Investment Management LLC now owns 30,150 shares of the company’s stock worth $109,000 after purchasing an additional 3,024 shares in the last quarter. 78.81% of the stock is owned by hedge funds and other institutional investors.

C4 Therapeutics Stock Performance

NASDAQ:CCCC opened at $1.38 on Monday. C4 Therapeutics, Inc. has a 1 year low of $1.09 and a 1 year high of $7.66. The stock has a fifty day moving average price of $1.59 and a two-hundred day moving average price of $3.07. The stock has a market capitalization of $97.99 million, a price-to-earnings ratio of -0.81 and a beta of 3.10.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.11. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. The business had revenue of $7.20 million for the quarter, compared to analysts’ expectations of $3.54 million. On average, analysts predict that C4 Therapeutics, Inc. will post -1.52 EPS for the current year.

Analysts Set New Price Targets

Separately, UBS Group raised C4 Therapeutics to a “hold” rating in a report on Friday, February 14th.

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.