Headlands Technologies LLC Purchases Shares of 153,972 C4 Therapeutics, Inc. $CCCC

Headlands Technologies LLC acquired a new position in C4 Therapeutics, Inc. (NASDAQ:CCCC) during the second quarter, according to its most recent filing with the SEC. The firm acquired 153,972 shares of the company’s stock, valued at approximately $719,000. Headlands Technologies LLC owned about 0.13% of C4 Therapeutics as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. SummitTX Capital L.P. purchased a new stake in C4 Therapeutics in the first quarter worth $28,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of C4 Therapeutics in the 1st quarter worth about $28,000. Zacks Investment Management bought a new stake in shares of C4 Therapeutics during the 3rd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of C4 Therapeutics during the third quarter valued at about $43,000. Finally, Virtu Financial LLC bought a new position in C4 Therapeutics in the fourth quarter worth about $39,000. 78.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

C4 Therapeutics Price Performance

NASDAQ:CCCC opened at $3.87 on Wednesday. C4 Therapeutics, Inc. has a one year low of $1.69 and a one year high of $5.17. The company’s 50-day simple moving average is $3.95 and its 200 day simple moving average is $3.38. The firm has a market capitalization of $476.13 million, a P/E ratio of -3.87 and a beta of 2.94.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.05. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. The firm had revenue of $6.64 million during the quarter, compared to analyst estimates of $4.00 million. On average, equities research analysts expect that C4 Therapeutics, Inc. will post -0.85 earnings per share for the current fiscal year.

About C4 Therapeutics

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.