E Fund Management Co. Ltd. Sells 28,116 Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC)

E Fund Management Co. Ltd. lessened its holdings in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 71.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,280 shares of the company’s stock after selling 28,116 shares during the quarter. E Fund Management Co. Ltd.’s holdings in C4 Therapeutics were worth $52,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cornercap Investment Counsel Inc. bought a new stake in shares of C4 Therapeutics during the second quarter worth about $125,000. American Century Companies Inc. boosted its stake in C4 Therapeutics by 23.9% during the 2nd quarter. American Century Companies Inc. now owns 110,075 shares of the company’s stock valued at $509,000 after purchasing an additional 21,225 shares during the last quarter. Headlands Technologies LLC bought a new stake in C4 Therapeutics during the 2nd quarter worth approximately $45,000. Acadian Asset Management LLC raised its stake in shares of C4 Therapeutics by 415.8% in the second 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 last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of C4 Therapeutics by 4,959.8% in the second quarter. Rhumbline Advisers now owns 90,621 shares of the company’s stock valued at $419,000 after purchasing an additional 88,830 shares in the last quarter. Institutional investors own 78.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reissued an “outperform” rating and issued a $20.00 price target on shares of C4 Therapeutics in a research report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, C4 Therapeutics has an average rating of “Hold” and a consensus target price of $9.29.

C4 Therapeutics Trading Up 3.0 %

CCCC stock opened at $6.57 on Friday. The stock has a market cap of $452.06 million, a P/E ratio of -2.77 and a beta of 3.05. The stock’s fifty day simple moving average is $6.18 and its two-hundred day simple moving average is $6.43. C4 Therapeutics, Inc. has a 1-year low of $1.06 and a 1-year high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.11. C4 Therapeutics had a negative net margin of 367.17% and a negative return on equity of 44.60%. The company had revenue of $12.01 million for the quarter, compared to the consensus estimate of $6.88 million. As a group, analysts forecast that C4 Therapeutics, Inc. will post -1.57 earnings per share for the current fiscal year.

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.