Leonard Reyno Sells 10,000 Shares of C4 Therapeutics (NASDAQ:CCCC) Stock

C4 Therapeutics, Inc. (NASDAQ:CCCC) insider Leonard Reyno sold 10,000 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $2.22, for a total transaction of $22,200.00. Following the transaction, the insider owned 156,382 shares in the company, valued at $347,168.04. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

C4 Therapeutics Stock Performance

NASDAQ CCCC traded up $0.02 during trading on Friday, hitting $2.24. The stock had a trading volume of 1,265,983 shares, compared to its average volume of 1,284,244. C4 Therapeutics, Inc. has a one year low of $1.09 and a one year high of $4.03. The stock has a 50 day simple moving average of $2.32 and a 200 day simple moving average of $2.35. The stock has a market capitalization of $216.59 million, a price-to-earnings ratio of -1.34 and a beta of 2.93.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.03. C4 Therapeutics had a negative return on equity of 64.40% and a negative net margin of 395.51%.The firm had revenue of $11.23 million for the quarter, compared to the consensus estimate of $6.28 million. On average, sell-side analysts predict that C4 Therapeutics, Inc. will post -1.52 EPS for the current year.

Hedge Funds Weigh In On C4 Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. raised its stake in C4 Therapeutics by 15.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 237,137 shares of the company’s stock worth $453,000 after buying an additional 32,104 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of C4 Therapeutics in the 3rd quarter valued at $43,000. Jacobs Levy Equity Management Inc. raised its position in shares of C4 Therapeutics by 13.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 503,145 shares of the company’s stock worth $1,117,000 after acquiring an additional 61,410 shares in the last quarter. Voleon Capital Management LP purchased a new stake in shares of C4 Therapeutics during the 3rd quarter worth $63,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of C4 Therapeutics during the 3rd quarter worth $257,000. 78.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CCCC shares. Cowen started coverage on shares of C4 Therapeutics in a research note on Tuesday, December 2nd. They set a “buy” rating for the company. Wells Fargo & Company boosted their price objective on shares of C4 Therapeutics from $5.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, September 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Wednesday, October 8th. Barclays decreased their price target on shares of C4 Therapeutics from $10.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. Finally, TD Cowen assumed coverage on C4 Therapeutics in a research note on Tuesday, December 2nd. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

C4 Therapeutics Company Profile

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.