Barclays PLC Buys 67,546 Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC)

Barclays PLC boosted its stake in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 38.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 243,457 shares of the company’s stock after buying an additional 67,546 shares during the quarter. Barclays PLC’s holdings in C4 Therapeutics were worth $1,387,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CCCC. XTX Topco Ltd bought a new position in C4 Therapeutics during the third quarter valued at $484,000. Wellington Management Group LLP boosted its stake in shares of C4 Therapeutics by 24.7% during the 3rd quarter. Wellington Management Group LLP now owns 286,041 shares of the company’s stock worth $1,630,000 after purchasing an additional 56,696 shares during the period. Wexford Capital LP purchased a new position in shares of C4 Therapeutics during the 3rd quarter worth about $315,000. Point72 DIFC Ltd bought a new position in C4 Therapeutics during the 3rd quarter valued at about $51,000. Finally, Point72 Asset Management L.P. raised its position in C4 Therapeutics by 331.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,201,848 shares of the company’s stock worth $6,851,000 after purchasing an additional 923,268 shares during the period. 78.81% of the stock is currently owned by institutional investors.

C4 Therapeutics Price Performance

Shares of CCCC stock opened at $3.79 on Friday. The company has a market capitalization of $267.53 million, a P/E ratio of -2.23 and a beta of 2.92. The company’s 50-day simple moving average is $4.79 and its two-hundred day simple moving average is $5.41. C4 Therapeutics, Inc. has a one year low of $3.61 and a one year high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last announced 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 firm had revenue of $15.36 million during 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%. On average, research analysts expect that C4 Therapeutics, Inc. will post -1.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on CCCC. Wells Fargo & Company upgraded C4 Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $12.00 in a research report on Thursday, December 19th. Stephens started coverage on C4 Therapeutics in a report on Monday, November 18th. They set an “equal weight” rating and a $4.00 price objective for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.