The Manufacturers Life Insurance Company Purchases 18,746 Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC)

The Manufacturers Life Insurance Company boosted its position in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 81.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 41,664 shares of the company’s stock after acquiring an additional 18,746 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of C4 Therapeutics worth $237,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Acadian Asset Management LLC boosted its stake in C4 Therapeutics by 415.8% in the 2nd quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock worth $524,000 after purchasing an additional 91,443 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of C4 Therapeutics in the second quarter worth about $881,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of C4 Therapeutics in the second quarter valued at approximately $660,000. Lynx1 Capital Management LP grew its stake in C4 Therapeutics by 89.3% during the second quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock valued at $31,788,000 after acquiring an additional 3,245,865 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in C4 Therapeutics during the second quarter valued at approximately $194,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Stephens began 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.00.

C4 Therapeutics Stock Performance

CCCC stock opened at $4.31 on Tuesday. C4 Therapeutics, Inc. has a one year low of $3.77 and a one year high of $11.88. The company has a market capitalization of $304.24 million, a PE ratio of -2.54 and a beta of 2.92. The company’s 50 day moving average price is $5.15 and its two-hundred day moving average price is $5.47.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data 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. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. The firm had revenue of $15.36 million during the quarter, compared to the consensus estimate of $5.95 million. On average, research analysts predict that C4 Therapeutics, Inc. will post -1.52 EPS for the current year.

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.