Y Intercept Hong Kong Ltd Invests $83,000 in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Y Intercept Hong Kong Ltd acquired a new stake in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 23,176 shares of the company’s stock, valued at approximately $83,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its position in shares of C4 Therapeutics by 331.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,201,848 shares of the company’s stock valued at $6,851,000 after purchasing an additional 923,268 shares during the period. Wasatch Advisors LP boosted its stake in C4 Therapeutics by 17.1% during the third quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company’s stock valued at $32,361,000 after buying an additional 830,218 shares in the last quarter. FMR LLC grew its holdings in C4 Therapeutics by 687.0% during the third quarter. FMR LLC now owns 185,941 shares of the company’s stock worth $1,060,000 after acquiring an additional 162,314 shares during the period. XTX Topco Ltd bought a new stake in C4 Therapeutics in the third quarter worth about $484,000. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in C4 Therapeutics by 6.0% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,319,484 shares of the company’s stock valued at $7,521,000 after acquiring an additional 75,126 shares during the last quarter. Institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Price Performance

Shares of CCCC opened at $2.43 on Thursday. The company has a 50-day moving average of $3.43 and a two-hundred day moving average of $4.73. The stock has a market cap of $171.53 million, a price-to-earnings ratio of -1.43 and a beta of 2.95. C4 Therapeutics, Inc. has a one year low of $2.21 and a one year high of $11.48.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) 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 $5.18 million during the quarter, compared to analyst estimates of $4.43 million. Analysts anticipate that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Stephens began coverage on shares of C4 Therapeutics in a research note on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price objective on the stock. UBS Group upgraded shares of C4 Therapeutics to a “hold” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company upgraded C4 Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $8.00 to $12.00 in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.50.

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.