Arete Wealth Advisors LLC Cuts Stake in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Arete Wealth Advisors LLC lowered its holdings in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 34.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,350 shares of the company’s stock after selling 37,950 shares during the quarter. Arete Wealth Advisors LLC owned approximately 0.10% of C4 Therapeutics worth $418,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of C4 Therapeutics by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company’s stock worth $7,809,000 after purchasing an additional 7,460 shares during the period. Point72 DIFC Ltd bought a new stake in shares of C4 Therapeutics during the 3rd quarter worth approximately $51,000. Headlands Technologies LLC bought a new stake in shares of C4 Therapeutics during the 2nd quarter worth approximately $45,000. Cynosure Group LLC bought a new stake in shares of C4 Therapeutics during the 3rd quarter worth approximately $57,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of C4 Therapeutics during the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Analyst Ratings Changes

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

C4 Therapeutics Price Performance

Shares of CCCC stock opened at $4.32 on Friday. C4 Therapeutics, Inc. has a 1-year low of $3.16 and a 1-year high of $11.88. The stock’s fifty day moving average price is $5.19 and its 200 day moving average price is $5.48. The company has a market cap of $304.94 million, a price-to-earnings ratio of -2.54 and a beta of 2.92.

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

About C4 Therapeutics

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.