453,236 Shares in C4 Therapeutics, Inc. $CCCC Acquired by Stempoint Capital LP

Stempoint Capital LP acquired a new stake in C4 Therapeutics, Inc. (NASDAQ:CCCC) in the first quarter, according to its most recent filing with the SEC. The fund acquired 453,236 shares of the company’s stock, valued at approximately $1,192,000. Stempoint Capital LP owned approximately 0.41% of C4 Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. RA Capital Management L.P. bought a new position in shares of C4 Therapeutics in the fourth quarter worth $15,280,000. Bain Capital Life Sciences Investors LLC lifted its holdings in C4 Therapeutics by 545.0% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 7,171,910 shares of the company’s stock worth $13,698,000 after purchasing an additional 6,060,000 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in C4 Therapeutics by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock worth $6,475,000 after purchasing an additional 859,235 shares in the last quarter. Wells Fargo & Company MN boosted its stake in C4 Therapeutics by 4,236.9% in the 4th quarter. Wells Fargo & Company MN now owns 809,260 shares of the company’s stock worth $1,546,000 after purchasing an additional 790,600 shares during the period. Finally, Wasatch Advisors LP boosted its stake in C4 Therapeutics by 10.4% in the 2nd quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company’s stock worth $10,617,000 after purchasing an additional 700,253 shares during the period. Institutional investors own 78.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, C4 Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $7.75.

C4 Therapeutics Price Performance

CCCC opened at $3.52 on Thursday. The firm has a market capitalization of $389.21 million, a P/E ratio of -2.96 and a beta of 2.90. C4 Therapeutics, Inc. has a one year low of $1.69 and a one year high of $5.17. The company has a fifty day moving average price of $3.94 and a 200-day moving average price of $3.07.

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