Stempoint Capital LP Buys New Position in C4 Therapeutics, Inc. $CCCC

Stempoint Capital LP bought a new stake in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) in the 1st quarter, HoldingsChannel reports. The firm bought 453,236 shares of the company’s stock, valued at approximately $1,192,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. XTX Topco Ltd raised its position in shares of C4 Therapeutics by 170.0% during the 2nd quarter. XTX Topco Ltd now owns 108,278 shares of the company’s stock valued at $155,000 after buying an additional 68,178 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of C4 Therapeutics during the 4th quarter worth $119,000. Engineers Gate Manager LP grew its position in C4 Therapeutics by 49.9% in the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock worth $47,000 after acquiring an additional 8,130 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in C4 Therapeutics in the third quarter valued at $43,000. Finally, Virtu Financial LLC bought a new position in C4 Therapeutics in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.75.

C4 Therapeutics Price Performance

Shares of CCCC opened at $3.52 on Thursday. C4 Therapeutics, Inc. has a 1 year low of $1.69 and a 1 year high of $5.17. The stock has a 50 day simple moving average of $3.94 and a two-hundred day simple moving average of $3.07. The firm has a market cap of $389.21 million, a P/E ratio of -2.96 and a beta of 2.90.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.05. The firm had revenue of $6.15 million for the quarter, compared to the consensus estimate of $4.42 million. C4 Therapeutics had a negative net margin of 297.76% and a negative return on equity of 50.68%. On average, equities analysts anticipate that C4 Therapeutics, Inc. will post -0.87 earnings per share for the current year.

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.