C4 Therapeutics, Inc. (NASDAQ:CCCC) Shares Sold by State Street Corp

State Street Corp cut its position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 6.3% during the third quarter, Holdings Channel.com reports. The firm owned 2,806,913 shares of the company’s stock after selling 188,035 shares during the quarter. State Street Corp’s holdings in C4 Therapeutics were worth $15,999,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new stake in shares of C4 Therapeutics during the 3rd quarter valued at approximately $51,000. Headlands Technologies LLC purchased a new stake in C4 Therapeutics in the second quarter valued at $45,000. Cynosure Group LLC acquired a new position in shares of C4 Therapeutics in the 3rd quarter valued at $57,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of C4 Therapeutics in the 2nd quarter valued at $51,000. Finally, Aigen Investment Management LP purchased a new position in shares of C4 Therapeutics during the 3rd quarter worth $82,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

C4 Therapeutics Trading Down 4.7 %

C4 Therapeutics stock opened at $3.87 on Wednesday. The firm has a market capitalization of $273.18 million, a P/E ratio of -2.28 and a beta of 2.92. C4 Therapeutics, Inc. has a twelve month low of $3.61 and a twelve month high of $11.88. The stock’s fifty day simple moving average is $5.00 and its 200-day simple moving average is $5.44.

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

Wall Street Analysts Forecast Growth

CCCC has been the topic of a number of recent analyst reports. Wells Fargo & Company raised shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $8.00 to $12.00 in a research report on Thursday, December 19th. 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 on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.

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.