Wellington Management Group LLP Buys 56,696 Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC)

Wellington Management Group LLP increased its stake in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 24.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 286,041 shares of the company’s stock after purchasing an additional 56,696 shares during the period. Wellington Management Group LLP’s holdings in C4 Therapeutics were worth $1,630,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. acquired a new position in C4 Therapeutics during the second quarter valued at approximately $660,000. Bank of New York Mellon Corp bought a new position in shares of C4 Therapeutics in the 2nd quarter valued at $881,000. Hussman Strategic Advisors Inc. acquired a new position in C4 Therapeutics during the second quarter worth about $194,000. Rhumbline Advisers lifted its stake in C4 Therapeutics by 4,959.8% in the 2nd quarter. Rhumbline Advisers now owns 90,621 shares of the company’s stock valued at $419,000 after purchasing an additional 88,830 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of C4 Therapeutics by 415.8% in the 2nd quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock valued at $524,000 after acquiring an additional 91,443 shares during the last quarter. Institutional investors and hedge funds own 78.81% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens initiated coverage on shares of C4 Therapeutics in a report on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

C4 Therapeutics Price Performance

Shares of CCCC opened at $3.65 on Thursday. The business has a 50-day moving average of $5.10 and a 200-day moving average of $5.45. The company has a market capitalization of $257.65 million, a price-to-earnings ratio of -2.15 and a beta of 2.92. C4 Therapeutics, Inc. has a 1 year low of $3.61 and a 1 year high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. The business had revenue of $15.36 million for the quarter, compared to analyst estimates of $5.95 million. As a group, sell-side analysts anticipate that C4 Therapeutics, Inc. will post -1.52 EPS for the current year.

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.