Wasatch Advisors LP Sells 1,383,157 Shares of C4 Therapeutics, Inc. $CCCC

Wasatch Advisors LP lessened its stake in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 31.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,961,761 shares of the company’s stock after selling 1,383,157 shares during the quarter. Wasatch Advisors LP owned about 3.04% of C4 Therapeutics worth $7,789,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CCCC. Engineers Gate Manager LP raised its holdings in shares of C4 Therapeutics by 49.9% during the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock valued at $47,000 after purchasing an additional 8,130 shares during the last quarter. Man Group plc boosted its holdings in C4 Therapeutics by 15.0% in the third quarter. Man Group plc now owns 90,278 shares of the company’s stock worth $200,000 after purchasing an additional 11,791 shares during the last quarter. Zacks Investment Management purchased a new stake in C4 Therapeutics in the third quarter worth approximately $29,000. Invesco Ltd. grew its position in C4 Therapeutics by 11.1% in the 2nd quarter. Invesco Ltd. now owns 155,017 shares of the company’s stock worth $222,000 after purchasing an additional 15,531 shares during the period. Finally, Bank of America Corp DE grew its position in C4 Therapeutics by 0.9% in the 2nd quarter. Bank of America Corp DE now owns 2,008,004 shares of the company’s stock worth $2,871,000 after purchasing an additional 17,180 shares during the period. 78.81% of the stock is currently owned by institutional investors.

C4 Therapeutics Trading Down 3.2%

CCCC opened at $4.26 on Friday. C4 Therapeutics, Inc. has a 1-year low of $1.39 and a 1-year high of $4.60. The company has a market capitalization of $471.03 million, a PE ratio of -3.58 and a beta of 2.92. The firm’s 50 day simple moving average is $3.54 and its two-hundred day simple moving average is $2.78.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.05. The firm had revenue of $6.15 million during the quarter, compared to the consensus estimate of $4.42 million. C4 Therapeutics had a negative net margin of 297.76% and a negative return on equity of 50.68%. Equities analysts forecast that C4 Therapeutics, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.75.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.