The Manufacturers Life Insurance Company Sells 20,091 Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC)

The Manufacturers Life Insurance Company lowered its stake in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 48.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,573 shares of the company’s stock after selling 20,091 shares during the period. The Manufacturers Life Insurance Company’s holdings in C4 Therapeutics were worth $78,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in C4 Therapeutics by 4.6% in the 4th quarter. Rhumbline Advisers now owns 100,015 shares of the company’s stock worth $360,000 after acquiring an additional 4,366 shares during the last quarter. Sei Investments Co. bought a new stake in shares of C4 Therapeutics in the 4th quarter worth $45,000. American Century Companies Inc. raised its stake in shares of C4 Therapeutics by 8.5% in the fourth quarter. American Century Companies Inc. now owns 132,832 shares of the company’s stock worth $478,000 after purchasing an additional 10,459 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of C4 Therapeutics by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,381,086 shares of the company’s stock valued at $4,973,000 after purchasing an additional 11,410 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of C4 Therapeutics by 34.9% during the fourth quarter. Wells Fargo & Company MN now owns 36,306 shares of the company’s stock valued at $131,000 after purchasing an additional 9,389 shares in the last quarter. Institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Stock Performance

NASDAQ CCCC opened at $1.54 on Tuesday. The stock has a 50 day moving average price of $1.58 and a 200-day moving average price of $3.04. C4 Therapeutics, Inc. has a one year low of $1.09 and a one year high of $7.66. The company has a market capitalization of $109.35 million, a P/E ratio of -0.91 and a beta of 3.10.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.11. The company had revenue of $7.20 million during the quarter, compared to analyst estimates of $3.54 million. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. As a group, equities analysts predict that C4 Therapeutics, Inc. will post -1.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

C4 Therapeutics Company 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.