Wasatch Advisors LP Sells 2,810,470 Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC)

Wasatch Advisors LP reduced its holdings in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 39.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,328,479 shares of the company’s stock after selling 2,810,470 shares during the quarter. Wasatch Advisors LP owned 6.31% of C4 Therapeutics worth $35,364,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of C4 Therapeutics in the fourth quarter worth about $39,000. FNY Investment Advisers LLC bought a new position in shares of C4 Therapeutics during the fourth quarter worth about $49,000. Barclays PLC grew its holdings in shares of C4 Therapeutics by 30.7% during the third quarter. Barclays PLC now owns 43,614 shares of the company’s stock worth $81,000 after buying an additional 10,246 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of C4 Therapeutics by 33.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,322 shares of the company’s stock worth $92,000 after buying an additional 4,063 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of C4 Therapeutics by 214.6% during the third quarter. Citigroup Inc. now owns 57,894 shares of the company’s stock worth $108,000 after buying an additional 39,492 shares in the last quarter. 78.81% of the stock is currently owned by institutional investors.

C4 Therapeutics Price Performance

NASDAQ:CCCC opened at $4.52 on Wednesday. The stock has a 50 day simple moving average of $5.38 and a 200 day simple moving average of $6.65. C4 Therapeutics, Inc. has a 1-year low of $1.06 and a 1-year high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.41) earnings per share for the quarter, hitting the consensus estimate of ($0.41). The business had revenue of $3.04 million during the quarter, compared to analysts’ expectations of $10.93 million. C4 Therapeutics had a negative return on equity of 52.85% and a negative net margin of 629.24%. On average, research analysts forecast that C4 Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on CCCC shares. Stifel Nicolaus increased their price objective on C4 Therapeutics from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Wells Fargo & Company raised their price target on C4 Therapeutics from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, C4 Therapeutics presently has an average rating of “Hold” and an average target price of $10.13.

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.