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

Barclays PLC increased its position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 38.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,457 shares of the company’s stock after purchasing an additional 67,546 shares during the period. Barclays PLC owned 0.34% of C4 Therapeutics worth $1,387,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in C4 Therapeutics in the 2nd quarter worth $881,000. Hussman Strategic Advisors Inc. bought a new position in shares of C4 Therapeutics in the second quarter worth about $194,000. Rhumbline Advisers grew its position in shares of C4 Therapeutics by 4,959.8% during the second quarter. Rhumbline Advisers now owns 90,621 shares of the company’s stock worth $419,000 after purchasing an additional 88,830 shares in the last quarter. Acadian Asset Management LLC raised its stake in C4 Therapeutics by 415.8% during the 2nd quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock valued at $524,000 after purchasing an additional 91,443 shares during the period. Finally, Headlands Technologies LLC purchased a new position in C4 Therapeutics in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Price Performance

Shares of CCCC opened at $3.79 on Friday. The business’s 50 day simple moving average is $4.79 and its 200-day simple moving average is $5.41. C4 Therapeutics, Inc. has a 1 year low of $3.61 and a 1 year high of $11.88. The stock has a market capitalization of $267.53 million, a price-to-earnings ratio of -2.23 and a beta of 2.92.

C4 Therapeutics (NASDAQ:CCCC) last released 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. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. The company had revenue of $15.36 million for the quarter, compared to the consensus estimate of $5.95 million. On average, sell-side analysts expect that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CCCC shares. Stephens assumed coverage on shares of C4 Therapeutics in a report on Monday, November 18th. They set an “equal weight” rating and a $4.00 price objective for the company. Wells Fargo & Company raised shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $8.00 to $12.00 in a research note on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.

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.